Scrutiny of Indian tycoons deals a blow to Modi’s privatisation drive

India’s much-touted privatization drive, aimed at solving public finances, has been slow, with only one major sale since 2014. Seven listed companies are marked for privatization, but the market capitalization of these firms is currently at about $25bn. While Indian officials are scaling back their expectations, a tough financial climate has affected India’s tycoons who could buy assets in the privatization programme.