India private capital moves past correction into new era

India's private capital market has had its reckoning. The $69.8 billion that flooded in during 2021, a record by Bain & Company's count, is a number that now belongs to a different era — one defined by loose capital, inflated valuations and founders who never had to answer hard questions. Two years of contraction forced those answers. What is being built on the other side is leaner, more disciplined and built to last, experts told AsianInvestor.