Number of PE deals in India rose 60% over last 5 yrs: McKinsey's Akash Lal

In a Q&A, the Senior Partner at the Consultancy firm also says banks will need to increase productivity by 25%-30% to reach pre-Covid levels of profitability

The access to online information and ease of transactions has supported the rise in financialization of assets, says Akash Lal, Senior Partner, McKinsey & Company. In an interview with Ashley Coutinho, he says banks will need to increase productivity by 25-30 per cent to reach pre-Covid levels of profitability. Edited excerpts:

In 2020, India moved up to the ninth rank in McKinsey's Asian Capital Market Index. What factors are responsible for the improvement in the country's performance on the index?

We identified a few key trends that contributed to the improvement. First, private equity investments have quadrupled in the past