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Indian firms to outshine Western in acquisitions
By siliconindia
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Wednesday, 20 August 2008, 00:13 IST
Bangalore: With the acquisition rate witnessing a surge, the Indian companies is set to surpass its Western counterparts as per a study by the accountancy firm KPMG. The companies are seen to be more attracted towards outward deals, which have made 322 deals in countries such as the U.S. and Europe.
Tata's acquisition of the Jaguar Land Rover, are among the most revered deals as said by KPMG, which has tracked ventures between emerging market businesses and developed economies since 2003. Ian Gomes, was reported to predict that the market scenario would soon take a turn and that the outward investments shall soon overtake inward investments in India. According to him, Tata, Mittal and Ranbaxy have mostly brought in the larger deals, while others are valued to be around 50 million dollars.
In the words of the Director of Saffron Chase, a communication firm, Vikas Pota said, "We're witnessing something that can only be described as an industrial revolution in India. They feel that to capitalize on the Indian opportunity, they need to be global players themselves."
The inward investment in India has gripped around 340 Indian firms.
Britain has emerged as top destination for overseas acquisitions in terms of deal value, which stood at 1.52 billion pounds in the first six months of 2008.