<p>In 2007-08 alone, 94 deals between the range of $0.8 million and $1,005 million were concluded with the disclosed value in 55 deals totalling $4,432 million, according to the joint study released by the Federation of Indian Chambers of Commerce and Industry (FICCI) and Ernst and Young.<br /><br />In 2008-09, Indian companies were involved in 49 US-bound acquisitions. Of these, deal values were disclosed in 24 cases and their value totalled $960 million. The size of the deals were in the range of $0.70 million and $172 million, the report noted.<br /><br />Indian Ambassador to the US Meera Shankar released the study titled "India Contributes to Employment, Capital Growth and Tax Revenues in the US - Direct Investment by Indian companies in 2007-2009" at a function at the East West Centre.<br /><br />Speaking of a transformation that the India-US bilateral relationship had witnessed in recent years, Shankar highlighted the complementarities and convergences in the relationship.<br /><br />The US being the largest economy in the world was naturally a key economic partner for India, she said pointing out the growing two-way investment between both countries.<br /><br />FICCI President Harsh Pati Singhania and Secretary General Dr. Amit Mitra also spoke about the developing economic ties between India and the US and the numerous opportunities for further cooperation.<br /><br />The study shows that IT & ITeS (information technology and information technology enabled service), consumer products, pharmaceutical and manufacturing are the key sectors where companies are active in outbound acquisitions.<br /><br />However, the IT & ITeS sector is the sector where a majority of the deals took place. The IT & ITeS sector, in fact, accounted for 50 per cent of the total number of deals in 2007-08 and 40 percent of the total number of deals in 2008-09.<br /><br />The report attributed the rise in Indian outbound investments to the US to strong economic growth, and easy availability of debt finance for companies.<br /><br />Several Indian multinationals are still looking at acquiring US companies, despite the economic downturn which has raised the cost of overseas acquisitions.<br /><br /><em>(Arun Kumar can be contacted at arun.kumar@ians.in)</em></p>
<p>In 2007-08 alone, 94 deals between the range of $0.8 million and $1,005 million were concluded with the disclosed value in 55 deals totalling $4,432 million, according to the joint study released by the Federation of Indian Chambers of Commerce and Industry (FICCI) and Ernst and Young.<br /><br />In 2008-09, Indian companies were involved in 49 US-bound acquisitions. Of these, deal values were disclosed in 24 cases and their value totalled $960 million. The size of the deals were in the range of $0.70 million and $172 million, the report noted.<br /><br />Indian Ambassador to the US Meera Shankar released the study titled "India Contributes to Employment, Capital Growth and Tax Revenues in the US - Direct Investment by Indian companies in 2007-2009" at a function at the East West Centre.<br /><br />Speaking of a transformation that the India-US bilateral relationship had witnessed in recent years, Shankar highlighted the complementarities and convergences in the relationship.<br /><br />The US being the largest economy in the world was naturally a key economic partner for India, she said pointing out the growing two-way investment between both countries.<br /><br />FICCI President Harsh Pati Singhania and Secretary General Dr. Amit Mitra also spoke about the developing economic ties between India and the US and the numerous opportunities for further cooperation.<br /><br />The study shows that IT & ITeS (information technology and information technology enabled service), consumer products, pharmaceutical and manufacturing are the key sectors where companies are active in outbound acquisitions.<br /><br />However, the IT & ITeS sector is the sector where a majority of the deals took place. The IT & ITeS sector, in fact, accounted for 50 per cent of the total number of deals in 2007-08 and 40 percent of the total number of deals in 2008-09.<br /><br />The report attributed the rise in Indian outbound investments to the US to strong economic growth, and easy availability of debt finance for companies.<br /><br />Several Indian multinationals are still looking at acquiring US companies, despite the economic downturn which has raised the cost of overseas acquisitions.<br /><br /><em>(Arun Kumar can be contacted at arun.kumar@ians.in)</em></p>