Indian cos not becoming commodities: Kamal Nath

New Delhi, Dec 18: Denying that Indian companies are becoming commodities because of their increased overseas buying, Union Commerce and Industry Minister Kamal Nath today said it indicates new market access for them through investments abroad.

''The Indian industries are creating new avenues outside to expand their operations and thus helping in the progress of their overall growth,'' Mr Nath said on the sidelines of a seminar on 'Making Globalisation Work: An India Perspective'.

This in turn is helping them become more competitive in the global environment, he told reporters here.

Taking note of Reliance Communications teaming up with three US private equity groups for buying the Indian mobile phone operations of Hutchison Telecommunications International, Mr Nath said new synergies are being opened for these companies for overseas acquisitions.

UNI