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Budget '07 To Boost Cross-Border M&As: IndusView
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Telecom, infrastructure, retail and real estate would be the sectors to watch out for.
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Monday, February 26, 2007:
If the sops proposed in the recently announced semiconductor policy are any indication of the upcoming union budget for the financial year 2007-08, then the market on the whole stands to witness a spurt in cross-border mergers and acquisitions (M&A), believes IndusView, the India-focused cross-border advisory firm.
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And, the verticals that would to be on the radar of global companies include telecom, retail, infrastructure and real estate, as these sectors are more likely to find favour with the finance minister.
The semiconductor policy offered capital subsidy of up to 25 per cent on investments for setting up semiconductor, micro- and nanotechnology manufacturing units. "The benefit extended to the semiconductor industry is expected to attract investments of up to $10 billion in the next 4-5 years from global chip manufacturers that initially sighed away from India," said Bundeep Singh Rangar, chairman, IndusView.
He added that the initiative would open the Indian electronic design automation (EDA) industry, which is estimated to grow to $43 billion by 2015 from the current $3 billion, to M&A activity.
The telecom sector has seen great traction particularly in the mobile communication segment which is growing at more than six million subscribers a month. But the sector continues to be plagued by inequitable distribution of service, tilted more towards urban penetration.
IndusView stresses on increased participation of global service providers in their Indian operations which would mean more resources for the sector which, according to industry estimates, would require investments to the tune of $20 billion in the next four years.
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