Demerger to give a push to both pharma and financial services: Ajay Piramal

In a Q&A, the Chairman of Piramal Group talks about the prospects of both businesses, the rationale for the demerger and how supply side issues are impacting Indian companies

Ajay Piramal, Chairman of Piramal group is optimistic that the Indian economy is set for a turnaround and all industries will be back to their pre-Covid level by the end of the current fiscal. After announcing the demerger of its pharmaceutical business from Piramal Enterprises, Piramal spoke to Dev Chatterjee and Sohini Das about the prospects of both businesses, the rationale for the demerger and how supply side issues are impacting the Indian companies. Excerpts:

Your investors have been asking for quite some time to demerge the financial services and pharma businesses. What is the rationale behind this move now?