Ambani, Adani: Should India break up its big conglomerates?
A former deputy governor of India’s central bank says five big firms are hindering competition in the market. …
The trend raises several concerns, according to the former deputy governor. These include “the risk of crony capitalism, i.e., political connections and inefficient project allocations, related party transactions within their byzantine corporate organisation charts”, taking on excess debt to fund their expansion and preventing competitors from entering the market.
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