Emergic: Rajesh Jain's Blog

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India Inc as Buyer

February 8th, 2007 · No Comments

The New York Times writes in the wake of Tata Steel’s acquisition of Corus:

The takeover of Western companies by Indians is seen by many here as a reversal of fortune: a once-proud civilization that became a colony is now buying out the once-hallowed corporations of the West.

Now, in the takeover boom, are portents that as economic fundamentals change, culture changes with them.

A pulsating, dynamic new India is emerging, Amitabh Bachchan, a Bollywood actor, says in a television ad for The Times of India. An India whose faith in success is far greater than its fear of failure. An India that no longer boycotts foreign-made goods but buys out the companies that make them instead.

Tags: Emerging Markets