How India is breathing easy on corporate debt amid crisis elsewhere

Indian companies are doing better than peers, but business is slowing down

Rising interest rates and a banking crisis in the West have some worried about India's corporate debt profile.

An analysis of data on emerging market (EM) countries shows that Indian companies came out of the pandemic with lower leverage than their peers. Total borrowings by companies in China, Brazil and EM countries increased relative to the size of those economies, shows data from the Bank for International Settlements (BIS), an organisation of global central banks. India was among the few countries that came out of the pandemic with lower debt on company books relative to economic size measured by gross