Economic Advisory Council to the Prime Minister (EAC-PM) member Sanjeev Sanyal stated that India must embrace bankruptcies as a necessary component of a dynamic economy. He emphasized that continuous 'churn,' where old companies fail and new ones emerge, is vital for long-term economic strength. Sanyal cited the Jet Airways closure as an example of how such failures can create opportunities for other airlines. He also expressed discomfort with 'freebies' but supported a safety net for risk-takers, while noting regulators should intervene against misuse of power.