india going global.indd - The IIPM Think Tank

IN FOCUS
INDIA INC. GOING
G L O B A L
India Inc.’s global ambitions are on a new high with year-to-date
overseas acquisitions worth more than $28 billion compared with
just $4 billion in the corresponding period of the calendar year in
2006 and more than twice achieved in the whole of last year. Transactions
include the acquisition of the U.K.’s largest steel maker Corus
Group Plc by India’s Tata Steel Ltd; the acquisition of Hutchison Essar
Ltd India’s second largest GSM mobile service provider by the U.K.’s
Vodafone Group Plc; India’s largest non-ferrous metals company Hindalco
Industries Ltd’s acquisition of Atlanta-based Novelis Inc. and
Suzlon Energy Ltd’s acquisition of German wind turbine company
REpower Systems AG.
If that was not enough, we have the bidding war round the corner
for Jaguar and Land Rover, the U.K. based iconic marques owned by
Ford Motor Company, the U.S. based world’s third largest automaker,
for an estimated price upward of $2 billion, which features Tata Motors
Ltd, India’s biggest automobile company, and Mahindra & Mahindra
38 Need the Dough July-October - 2007