ibnlive » Business

TATA gives India a winning edge


Akanksha Banerji,CNN-IBN
Feb 02, 2007 at 06:11pm IST

London: TATAs victory over Brazilian CSN for Corus is not just a win for TATAs but is a victory for India as well. The mood perhaps like India winning ODI against Pakistan.

This will also pave the way for more Indian companies eyeing foreign takeovers.

TATAS winning multi billion bid for Anglo-Dutch company Corus is not just the biggest ever foreign takeover, its being hailed as a victory for India Inc.

There are over 500 Indian companies in the UK majority of them in the IT sector, followed by manufacturing and life sciences.

India is the second largest overseas investor in city of London. But investments apart, more and more Indian companies are eyeing foreign acquisitions. And TATAs have just proved that dream is possible.

Commonwealth Business Council India Programme Director Sanmit Ahuja said, “SMEs are the backbone. Big players make acquisitions and build bridges. Once bridges are built others can do it as well.”

Although India's booming eco is not news, The TATA acquisition has put the spotlight once again on India's growing strength. It has instilled confidence and energy in other companies with global plans.

Over the next few years, an Indian company buying an international one will not raise any eyebrows.

Previous Comments

Latest

More from this section

PREVIOUS  Markets close at all time high

NEXT  RBI credit policy's real impact