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Deloitte invests $17 billion in India
By siliconindia
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Friday, 13 April 2007, 19:30 IST
Deloitte, a global consultancy services provider launched its finance and private equity services in the country by investing $15 to 17 billion.
�We have decided to invest this amount in three to four years. Of this we are half way through. However, we are ready to invest more if the market demands so,� says Manoj P Singh, Chief Executive officer, Deloitte Touche Tohmatsu.
Deloitte, one of the big four audit firms launched the corporate finance services for the top 500 companies. Deloitte also has 25 percent clients in these companies.
India has acquired the tenth place in the mergers and acquisition (M&A) chart in 2007 from the 12th place in 2006. According to Singh, M&A will continue at least for three to four years. The estimate says that the 176 deals worth $39 billion have been struck in January and February 2007-08, which is double of the deal value in 2006-07.
Although the local practitioners are concerned about the level of competition for limited quality assets, irresponsible investment and high valuation, private equity is on the growth trajectory.
As a result of the survey conducted by Deloitte in 40 private equity houses, the respondents found to be more concerned about the legislative framework.