Govt to help smaller firms mount global takeovers
NEW DELHI: The government is no longer fighting shy of Indian companies going for overseas acquisitions. Instead, it is preparing a plan aimed at boosting foreign buyouts by smaller players.
Senior government officials told TOI that the department of industrial policy and promotion (DIPP) has identified South East Asia, eastern Europe and Africa as areas where it will assist Indian companies acquire assets as well as companies. It is working out a detailed strategy that is expected to be executed through Invest India, a public-private partnership initiative that was originally aimed at boosting investment into the country.
According to the latest available data, during April-October 2011, foreign direct investment (FDI) outflows from India were estimated at $25.3 billion, while inflows were of the order of $20.3 billion. As a result, there was net outflow of $5 billion despite a 28% decline in investments abroad and a 64% jump in inflows from foreign investors.
Senior government officials told TOI that the department of industrial policy and promotion (DIPP) has identified South East Asia, eastern Europe and Africa as areas where it will assist Indian companies acquire assets as well as companies. It is working out a detailed strategy that is expected to be executed through Invest India, a public-private partnership initiative that was originally aimed at boosting investment into the country.
According to the latest available data, during April-October 2011, foreign direct investment (FDI) outflows from India were estimated at $25.3 billion, while inflows were of the order of $20.3 billion. As a result, there was net outflow of $5 billion despite a 28% decline in investments abroad and a 64% jump in inflows from foreign investors.
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