IBC is a deep reform, much more than GST and note ban - K M Birla

Kumar Mangalam Birla, the 51-year-old chairman of Aditya Birla Group, expects the Indian economy to grow between 7% and 8% over the next few years, because of a slew of reforms such as implementation of goods and services tax, demonetization and the Insolvency and Bankruptcy Code.

“I think we’re seeing improved levels of governance in corporate India and the government. We’re truly integrating with the world economy. I think there’s a definite deep cut that’s happened and IBC is a deep reform...,” Birla said in an interview.

He said banks will be more cautious in lending and the balance sheets of companies will matter more than before.

Such reforms and their effects have given Birla confidence to pursue aggressive growth for his group, as witnessed in his aggressive pursuits in the cement business and the latest acquisition of Aleris, which will make Hindalco Industries Ltd the world’s second-largest aluminium producer. #casansaar (Source - LiveMint)