TAKE ’EM OVER
The New Raiders makes me feel proud to be an Indian. Indians have traditionally done well outside the country but today our country is breaking free of its shackles imposed by socialism and quotas. It’s heartening to learn that Indian entrepreneurs have grown to be the newest takeover tycoons in the world of business. The triumphs of Ratan Tata, Kumarmangalam Birla, L.N. Mittal, and a slew of acquisitions planned by the likes of Infosys and Wipro stoke Indian national pride in a big way.
You are right in saying that a kind of takeover fever has gripped India Inc. The deal street is buzzing as never before with companies making takeover or merger announcements on a daily basis. Almost every listed company is on the prowl—both at home as well as abroad—looking for suitable prey.
Hopefully, they won’t make the same mistakes as the Japanese investors in the 1980s when they overdid the M&A exercise and ended up with mountains of debt and costly and unviable enterprises. However, Indian businessmen are a canny lot and they are unlikely to make the same mistakes. I wish them well.
Vinny Sharma
New York
A FICCI analysis has shown that India Inc made over 300 overseas acquisitions between 2000-2006 with deals worth over $10 billion. Over 130 takeovers happened in 2005, and the US emerged as the most preferred destination with 90 acquisitions. The UK was the second most important destination with 40 acquisitions registered in the country during the period. A look at the year-wise data pertaining to the geographical destinations chosen by Indian companies for their overseas acquisitions shows that Europe is emerging as a favoured acquisition region. These findings have shown that India Inc is big enough and bold enough to take the battle into the cradle of capitalism.
Anish Balram
Seattle
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ASIAN DRAMA
The Pakistan India Friendship Forum UK is taking the right steps towards fostering harmony between the subcontinental
neighbours. This is the third chapter of the organisation. The Forum believes people to people contact is the way forward and that’s the way to move because the politicians are making no progress. The example of the EU is before them to follow for the good of their people. When prosperity reigns and the peace dividend descends on these two countries, they will not have to keep large armies which are a drain on their resources.
Sonia Rawat
London
YOG CHECKS ROG
Yogi Ashwini’s column is simply superb. He explains things in such clear language that there is absolutely no scope for getting asasnas wrong. Also, the benefits are mentioned so that it gives you motivation to get into those seemingly difficult positions. But the fact is that they are extremely natural and once you get into the act, they are easy.
Arun Grover
Sydney
PARTING SHOT
INDIA EMPIRE is one of the finest new magazines to come out in recent years. You should seriously think of challenging the established ones that publish what the establishment says. Some of your stories are world class and well-written. Go for it, people.
Prashant Saxena
New Delhi
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