Indian firms asked to go global
Pti, New Delhi
Finance Minister P Chidambaram Friday asked Indian companies to aspire to be among the top five global players in their respective sectors and assured them the government will help in raising capital for acquiring businesses overseas. "We must look beyond 9 per cent growth, which is possible only through inorganic way," he told captains of the Indian industry at the NDTV Profit business leadership awards here. Chidambaram said while companies must grow organically in the domestic market, they would have to go global and buy business abroad for expanding their operations. "We all felt delighted when Tatas acquired Corus and all the major Indian companies should make efforts to become among the top five global brands," he said. Tata Steel early this year acquired Anglo-Dutch steel maker Corus Group Plc for around 12 billion dollars in what was the biggest takeover by an Indian company. In the process, Tata Steel became the world's sixth-largest steel producer. Indian companies have in recent times acquired a number of foreign companies in variety of sectors such as metals, software, pharma, energy and FMCG.
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