Circa 2002: Indian manufacturers are scouting for overseas acquisitions. No, they are not buying small units in Africa or Latin America. Instead, the target countries include developed markets such as the US, Germany, UK and Singapore. In fact, 30 acquisitions worth over a billion dollars have been announced in the last 12 months.
Call it the glocal conundrum. While corporate India is battling for survival in local markets, it is simultaneously looking out. In fact, it's the urge to keep its head above waters that is forcing it to adopt a dichotomous strategy: curtail your investments in India and use the spare cash to shop abroad. And the rush to join the ever-growing queue of buyers is only growing.