India is struggling to be deal centre: Dr Kumar

Mumbai, Nov 3 (UNI) Union minister of state for industry Dr Ashvini Kumar today said though India is emerging as a significant player on the world transaction stage it is still trying to establish itself as a deal centre.

Addressing a conference on Mergers and Acquisitions Perspectives, organised by FIMI in cooperation with BMC capital markets here, Dr Kumar said India is experiencing the very early stages of industrialisation and is lagging China by a number of years.

In 2007, 12 mining and metals transactions were undertaken either by Indian companies or by foreign operations in India, up from nine in 2000 but down from 17 in 2006.

The total value of transaction reached USD 3.9 billion from USD 6.30 million in 2006.

He said Merger and Acquisition activity is expected to continue in India, with a major focus on outbound deals by Indian metal majors.

UNI JM RN AG1922