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Companies make FDIs worth US $23bn in two months

Apr '07
Indian Companies have made FDI worth USD 23 billion in January and February, 2007 which far exceeds the investments of USD 21 billion made during the 12 months of 2006.

This was revealed by Dr. Ajay Dua, Secretary, Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Government of India while speaking at the National Conclave on Expansions and Consolidations “Towards Creating Globally Competitive Enterprises” organized by Confederation of Indian Industry (CII) in New Delhi.

Mr.Dua, while congratulating CII on organizing the very timely conclave, highlighted the importance of Mergers and Acquisitions for the small and medium enterprises.

“The SMEs are increasingly acquiring companies to gain the advantages of quick scale up, technology acquisition and benefits of innovation. Moreover, a large number of SMEs overseas already have FDI approvals, thus making the process of acquisitions faster”, added Mr. Dua.

The Secretary further added that the size of company was no longer valid in relation to Mergers and Acquisitions. “Going forward, what will be more important will be your bona fides, your products and your entrepreneurial ability."

"India's growth in the future will be influenced by a range of Mergers and Acquisition, which was not the accepted route for growth earlier”, he said.

Mr. Sunil Kant Munjal, Past President, CII said that there is an increasing war in business for talent acquisition, funds, market share, technology and innovation.

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