Crisis in West forces global players to acquire Indian companies in 2011   2 comments


The year 2006, when Tata Steel bought Anglo-Dutch steelmaker Corus for $12 billion, was considered a watershed: It marked the beginning of a string of large overseas acquisitions by ambitious Indian companies venturing abroad in search of new markets and advanced technologies: Since then, the major deals have included Hindalco’s purchase of Novelis, the UB Group’s acquisition of Scottish whiskey-maker Whyte & Mackay and Tata Motors buying Jaguar Land Rover.

But in 2011, when the global economy was in the grip of uncertainty and India struggled with inflation and a weak rupee, the trend reversed. Overseas multinationals poured money into making Indian acquisitions while Indian companies’ overseas ambitions cooled very rapidly.

“There is a renewed interest in India. Global players which are facing slowdown in their home countries are making India their pillar of growth,” said Ravi Sardana, executive vice-president at ICICI Securities.

The year 2006, when Tata Steel bought Anglo-Dutch steelmaker Corus for $12 billion, was considered a watershed: It marked the beginning of a string of large overseas acquisitions by ambitious Indian companies venturing abroad in search of new markets and advanced technologies: Since then, the major deals have included Hindalco’s purchase of Novelis, the UB Group’s acquisition of Scottish whiskey-maker Whyte & Mackay and Tata Motors buying Jaguar Land Rover.

But in 2011, when the global economy was in the grip of uncertainty and India struggled with inflation and a weak rupee, the trend reversed. Overseas multinationals poured money into making Indian acquisitions while Indian companies’ overseas ambitions cooled very rapidly.

“There is a renewed interest in India. Global players which are facing slowdown in their home countries are making India their pillar of growth,” said Ravi Sardana, executive vice-president at ICICI Securities.

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Posted December 26, 2011 by avinash2060 in Current Affairs

2 responses to “Crisis in West forces global players to acquire Indian companies in 2011

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