India Business Updates

India Inc’s M&A bill crosses $50 billion in 07

Merger and acquisitions are set to become one of the most important trends of 2007 for India Inc, with the total deal value crossing 50-billion dollar mark with one more month still to go. According to data compiled by international consultancy major Grant Thornton, India Inc recorded M&A deals worth 940 million dollars in November, taking the total for first 11 months of 2007 to 50.79 billion dollars.

A total of 58 M&A deals were announced in November against 51 deals amounting to 610 million dollar in the previous month, according to Grant Thornton.

Rest of the article here.

Coffee chain Gloria Jean’s enters India

International coffee chain Gloria Jean’s is looking to make India a manufacturing and sourcing hub. It is setting up its second global coffee roasting and blending unit here. According to sources, Gloria Jean’s has finalised on a couple of locations and will tie up with Indian farmers to procure Arabica beans, which will be blended with imported coffee beans from Indonesia and Ethiopia.

The US-based coffee chain, which has more than half of its 770 outlets in Australia, announced on Monday that it was entering India through a tie-up with Citymax India, the hospitality and restaurant arm of Dubai-based Landmark Retail. Citymax will invest around Rs 50 crore for opening 100 stores over the next four years.

Rest of the article here.

India no.2 in AT Kearney FDI confidence index

China and India continue to rank first and second in the 2007 Foreign Direct Investment Confidence Index, a regular survey of global executives conducted by management consulting firm AT Kearney.

China leads the Index rankings for the fifth consecutive year and ranks first among Asian investors, 34% of whom plan to invest there over the next three years. Where as India retains second place in the Index, a position it has held since displacing the United States in 2005.

Rest of the article here.