India’s proceedings to recover bad debt are reshaping Chhattisgarh’s economy – and politics too

A baton is changing hands in Chhattisgarh.

Big companies are entering the state’s steel and power sector, using India’s ongoing insolvency proceedings to buy distressed firms. At the same time, Chhattisgarh’s local steel makers, several of whom entered the power sector in the mid-2000s, are looking beyond these two sectors.

Part Three of our series looks at how NCLT will affect the provincial business classes of India — as the buyers detailed in Part Two come in.