'Cos revaluating their policy to stay competitive'
Outbound acquisitions are a function of the increased confidence of Indian industry to replicate its efficient performance overseas, declared Mr Ashwani Kumar, Union Minister of State.
By TNN |
NEW DELHI: Outbound acquisitions are a function of the increased confidence of Indian industry to replicate its efficient performance overseas, declared Mr Ashwani Kumar, Union Minister of State, Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, addressing a Session on 'The Acquisitive Indian' at the India Economic Summit jointly organized by the World Economic Forum and CII, in New Delhi on Wednesday.
Indian companies are constantly revaluating their strategy to remain competitive globally, he said, acknowledging that easier access to capital and an upsurge in cash accruals were stimulants in the process of acquisition.
Commenting on regulatory constraints restricting the outbound deals, Kumar said that the Reserve Bank has progressively liberalized regulations over time to ensure ease of functioning. He also assured that bodies like SEBI, RBI and the Ministry of Finance were seized of the solutions that could be offered by way of regulatory revisions.
Discussing structural dissimilarities between India and China on the issue of acquisitions, James Z Li, Chairman and Chief Executive Officer, E J McKay & Co, People's Republic of China said that the Chinese followed a judgmental approach and there was no commonly accepted way of looking at things.
Urging the Indian entrepreneur to take greater risks, Li said that greater acquisitions would then be possible into China.
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