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Cross-cultural partnership important for M

Written by: Staff

Mumbai, Apr 7 (UNI) Pro-activeness hinging on core strengths, consolidated industries and value for time in competitive scenario were some of the attributes highlighted by delegates on the second day of the Confederation of Indian Industries (CII) organised conference 'Going Global - The India way', which began yeserday.

While elaborating on mergers and acquisitions - the topic of discssion for the second day, Tata Motors, managing director, Ravi Kant said, it should not be seen in a clinical manner, ''You are not just buying machinery, you are buying a company. A cross-cultural partnership is extremely important. It should be 'give and take' not just one-sided,'' further adding said, ''mergers and acquisitions were only a means to an end and not the end itself.'' On the other hand competitiveness and preparedness were more important than legacy was pointed out by Carlyle India Advisors Pvt Ltd, managing director, Rajeev Gupta.

Explaining that overseas acquisitions should be done by those who are in a consolidated industry and have the requisite market share, ''Return on Equity (ROE) is the real discriminator and not market leadership,'' a CII release quoted Mr Gupta.

Outlining the session theme, 'managing mergers&acquisitions in a global context,' Boston Consulting Group, director, Vikram Bhalla pointed out that M&A activity initiated by Indian companies is on the rise and "Indian companies have focused on mature markets, especially North America and Western Europe, compared to other countries that targeted emerging markets," the release added.

Cautioning that globalization was a two-way street, CII vice-president, R Seshasayee said, " when we venture abroad, let us remember that global companies are standing at our shores to enter our markets. We need to defend our turf but not by looking for protection. Instead we need to get more competitive and leapfrog in terms of technology solutions while keeping ecological considerations in mind." UNI VS PP AG1533

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