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Indian Telecom Industry Witnesses M&A Deals Worth US$ 9 billion |
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The fast growing Indian telecommunications industry has witnessed mergers and acquisitions (M&A) valued at over US$ 9 billion this fiscal, despite the global economic slowdown, according to a study by Assocham EcoPulse. Out of the total M&A deals sealed in the country, the telecommunications industry accounted for around one-third of them. The study revealed that foreign companies infused about US$ 8.06 billion into the deals. (Source: Assocham) |
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India Likely to Emerge as Global Hub for Innovation |
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India is likely to emerge as the next global hub for innovation and join the club of developed nations, with the country aiming to increase its research and development (R&D) expenditure in the coming years, according to a study by Evaluserve, a global research and analytics firm. The study stated that India is expected to strengthen its position in the innovation space as it is targeting to increase its R&D spend to two per cent of the GDP by 2012 under the 11th Five-Year Plan, from less than one per cent earlier. The study further pointed out that angel investors and venture capitalists will have an important role to play in the commercialisation process, given the limited availability of funding for early stage companies and innovators. The study further stated that the scenario for the development has become feasible as the government is focusing on public-private partnerships, such as knowledge parks and incubator programmes, to promote commercialisation, transfer and diffusion of technology.Source: IBEF |
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Global Auto Majors Accelerate Pace of Sourcing Components from India |
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The cost pressures building up for global auto companies during the current economic slowdown could well be an advantage for India. Those who have been using the country as their component sourcing base say that they will be accelerating the pace of sourcing from here. Source: The Hindu Business Line. |
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India M&A on the Rise Despite Crisis |
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Corporate India clocked $3.4 billion worth of M&As during November 2008, compared to $2.13 billion in the previous month (October 2008). The tally looks good even when compared to November 2007 ($850 million). "We saw record levels of mergers and acquisition (M&A) in 2007, but 2008 has also been a good year for M&A despite the choppy markets,'' said Harish H V, partner at Grant Thornton, handling transaction advisory services. "Indian M&As have touched $32 billion with 433 deals in the first 11 months which is a sign of maturity in the market,'' he added. "If one takes into account the dip in valuations, this figure is comparable to the 2007 figure of $51 billion. Similarly, PE deals at $11 billion, despite the depressed valuations, show the confidence in the Indian economy,'' he said. Analysts have noted that they expect the same levels of activity to continue in the near term and a reasonable increase in investments in the medium to long run.Source: The Times of India |
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India witnesses 36 % rise in Venture Capital investments |
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New Delhi: Venture capital (VC) investments have continued to grow in India and China, despite the global economic slowdown, as both the countries witnessed significant increase in VC investments during the third quarter of 2008. VC investment in India surged by 36 per cent to US$ 290 million for the period July-September 2008, reported a research firm, Venture Intelligence. The report further stated that the growth was due to the increased investment by existing players and the entry of new funds. Industry analysts believe that venture capital investors are still investing into emerging markets. Jessica Canning, Dow Jones VentureSource Global Research Director stated, "It is clear that venture capital investors are still eager to put money into emerging markets and, in many areas, they’re actually accelerating the pace of their investments."Source: IBEF. |
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India to grow at 7-7.5% in 2008 |
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Inflation forecast at 7.2-7.6% in 2008. Global credit rating agency Standard & Poor’s, in its latest outlook for the Asia-Pacific markets, has estimated that India’s real GDP growth will moderate to 6.5-7.0 per cent in 2009 even as consumer price based inflation will thaw to 5.0-5.5 per cent. The agency expects the easy monetary policy stance of the central bank to continue during 2009. In calendar year 2008, S&P expects India’s real GDP to grow by 7.0-7.5 per cent. It has pegged consumer price based inflation to be in the 7.2-7.6 per cent range. Source: Business Line |
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Micro Finance Reaching Rural India |
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In an effort to increase the reach of micro-financing into rural India, microfinance institutions (MFIs) are now using mobile phone technologies to make it more convenient and secure for the users. The latest to enter this segment is Cashpor India, which has partnered with the Israel-based ClassifEye to adopt their software-based fingerprint authentication technology that enables the MFI's agents to manage loans, make deposits and execute other operations via field agents who are equipped with Internet-enabled cellular phones. Source: Business Line |
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Indian IT Cos to Continue Development Despite Meltdown |
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Each of the top six Indian software services firms-TCS, Infosys, Wipro, Satyam, HCL Technologies and Cognizant-have cash reserves in excess of $500 million, with Infosys topping the list at $1.8 billion.This gives these firms flexibility to invest in newer opportunities including M&A possibilities. Mid-tier companies are also looking to leverage their cash reserves for M&A opportunities. Patni Computer Systems, with around $270 million in cash, is one such company that's eyeing M&A opportunities. Many other mid-tier companies might look at smaller acquisitions for topline growth. Typically around 10-12% of a company's topline translates into cash reserves for the IT companies. Source: Economic Times |
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Inflation Rate Drops to Lowest in Six Months |
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Wholesale Price Index of all commodities at 235.5. The annual Wholesale Price Index-based inflation rate was at 8.98 per cent during the week ended November 1, sharply below the previous week's annual rise of 10.72 per cent, government data showed on Thursday. The dip in the year-on-year inflation rate to a single digit level, after 21 consecutive weeks in the double digits, was on account of an all-round decline in price levels led by a sharp decline in annual inflation in the fuels category. |
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