Economy may take up to 24 months to recover: Deloitte India chairman

P R Ramesh says initiatives like GST and demonetisation have been taken very positively by foreign investors

Companies face many tax woes in India, yet Deloitte India Chairman P R Ramesh tells Dilasha Seth and Indivjal Dhasmana, why they fare worse in other tax jurisdictions. Edited excerpts

How long do you think it will take for the economy to recover? 

The defining moment in the past ten months was demonetisation. It was expected to have a short-term impact. However, demonetisation coupled with the goods and services tax (GST) roll-out, and the banking sector facing its own challenges, resulted in a setback. Then there are geopolitical issues — the Trump administration’s effect on our services sector. Though it