BlackRock managing director on India’s 'handle with care' stressed assets market

US investment manager BlackRock's Neeraj Seth feels Indian credit market needs to sharpen focus on long term credit ecosystem, simplifying taxes for foreign investors to ease capital access and bring more local experts to script turnarounds.
Speaking at the virtual keynote address at the VCCircle Stressed Assets Investment Summit 2021, Seth, who is the Managing Director and Head of Credit at the US investment manager, raised concerns over the recovery of distressed assets under the insolvency law questioning the thoughts behind value preservation, value creation and downside protection as a credit investor.
While appreciating the progress made by the Insolvency and Bankruptcy Code (IBC) as a resolution framework, he pointed out common issues such as delay in resolution and weaker infrastructure which hurt resolution as well as return expectations of global investors.
India not just needs capital, it also requires capital capability and capacity to reconstruct and rehabilitate stressed assets, Seth added.