New Delhi, May 5

India Inc would continue to expand its overseas footprint in the coming years on the strength of its “competitiveness” and increased opportunities for global buyouts, the new Confederation of Indian Industry (CII) President, Mr K.V. Kamath, has said.

“Pace of mergers and acquisitions (M&A) will increase. In the immediate term, it will be M&A in the global context. The reason is simple. It is not that domestic opportunity is shut. Domestic opportunities may not be as open as we would like it to be. But there are more opportunities abroad because global companies are under pressure,” Mr Kamath told Business Line soon after he assumed office.

Mr Kamath expects the recent trend of Indian companies going in for acquisitions abroad to continue. “This trend will continue. It is on one premise only — Indian industry is competitive. If Indian industry was not competitive and we were in a situation like 2002, there would have been no Indian companies to go out. You will not have the legs to go and nobody will receive you,” he said.

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