The Indian government wants to reduce bad loans in the shipping, power and steel sectors by encouraging takeovers by state-owned companies.
Cochin Shipyard is one of the publicly owned groups (PSUs) being urged to step in, in coordination with creditor banks, the India Express reported.
The plan was discussed at a meeting chaired by finance minister Arun Jaitley.
"Today's agenda was whether in some cases we can also involve the management team of certain established and successful PSUs in certain sectors to operate, at least in the interim, some of the plants,” Jaitley said.
“This
