Updated: 17 Apr 2021, 12:01 AM IST
- The harsh impact of the pandemic has led to a sharp contraction in India’s GDP as well as a tightening of credit in the banking sector. In such a situation, one may have assumed direct lending would take the lead in pulling India out of the pandemic-induced slump. However, Niti Aayog CEO Amitabh Kant in December 2020 said India’s private credit-to-GDP ratio is the lowest among its global peers, and the country’s credit scenario in recent years for a greater part has been seen as a drag on the economy. Against this dramatic backdrop, Neeraj Seth, Managing Director – Head of Asian Credit, Blackrock; Ashish Goyal, Senior Managing Director, OMERS; Eric Vimont, Managing Partner & Head of Strategy, Ares SSG; and Shyam Maheshwari, Partner, Ares SSG engaged in an insightful panel discussion moderated by Shrija Agrawal Executive Editor, HT Ideas, HT Digital. Watch the full video to know more about the changing face of private credit in India and why direct lending is needed.