Indian Businesses' Quest Abroad
Indian companies are on a buying spree on foreign shores
For indian entrepreneurs, the grass is greener across the border. Data from Reserve Bank of India showed that indian companies invested $43.9 billion overseas in 2010 to expand their empires, compared with just $18 billion a year earlier. But the most startling fact is this – indian companies overtook their chinese counterparts in buying minerals in 2010! They invested $4.64 billion in acquiring mines while the chinese spent $4.45 billion. The thirst has become larger this year, with Indian businessmen investing $13.3 billion overseas in the first four months alone of this financial year.
These examples of overseas acquisitions (until September 2011) prove that the search for minerals Dominated indian investments abroad this year too. We are also buying hospitals, hedge funds and brokerages.
(This story appears in the 18 November, 2011 issue of Forbes India. To visit our Archives, click here.)
