India's mid, long-term outlook very strong: PwC Chairman Bob Moritz

"Corporate bankruptcies are likely to significantly increase in G7 (nations) in the short-to-medium-term as the global economy slows down"

Bob Moritz, global chairman, PwC, in an e-mail interview with Ruchika Chitravanshi says the current volatile economic environment is creating challenges for businesses around the world, yet India’s medium- and long-term economic outlook appears to be very strong. Edited excerpts:

What is your sense of global economic prospects amid recession fears and what is the outlook on India?
 

Global growth is slowing down. Inflation is widespread across most countries, sectors, and income groups, and has, or is close to, reaching its peak in most advanced economies. We expect headline inflation to fall throughout 2023 as energy price rises drop out