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India Has a Banner Year for Deals and Overtakes China as a Favored Target
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India is an attractive place for foreign investors with the country moving up 23 places in the ease of doing business rankings of the World Bank. Growth is faster than China since 2015, and GDP is expected to double to $5 trillion by 2030, according to government think tank NITI Aayog.
Corporate deal making from foreign investors exceeds that in China. Mergers and acquisitions targeting Indian companies reaching a total of $93.7 billion in 2018, up 52% from last year, according to Dealogic. Overseas purchases were $39.5 billion for India in 2018 compared to $32.8 billion for China. In comparison to China where trade tensions are increasing, India under the Modi government has improved the ease of doing business- implementing a new bankruptcy code, easing foreign direct investment rules, introduced a nationwide goods and services tax to replace a hodge podge of taxes in different states.
In the consumer sector Unilever NV made purchase of a malted drink brand Horlicks from GlaxoSmithKline PLC as part of a $3.75 billion deal. Softbank led a $1 billion investment in OYO Hotels. In infrastructure Tata Steel made a $8.3 billion acquisition of steelmaker Bhushan Steel. Reliance Jio's aggressive push in mobile with low prices is leaving the telecom industry ripe for mergers and consolidation- Bharti Infratel acquired Indus Towers for $6.5 billion. Closely held family companies are also selling out their controlling stakes.
The business climate for foreign investors in India in 2018
12/25/2018
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India Has a Banner Year for Deals and Overtakes China as a Favored Target
WSJ 12/25/2018
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India’s Growth Slowed to 7.1% in Latest Quarter
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India Has a Banner Year for Deals and Overtakes China as a Favored Target
WSJ 12/25/2018
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India Has a Banner Year for Deals and Overtakes China as a Favored Target
WSJ 12/25/2018
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Germany, Canada do well in the ratings in many categories from green living and raising kids to entrepreneurship. France in cultural influence, Italy in heritage, India for movers. Australia, New Zealand, Scandinavian countries, Netherlands, also do well. In overall ratings taking into account GDP levels per capita Germany takes top spot, Canada second, followed by UK and U.S.
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India Has a Banner Year for Deals and Overtakes China as a Favored Target
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India's new GST, Goods and Services Tax, replacing a patchwork of 15 state based taxes- expected to increase economic growth by 0.5%-2% a year
08/04/2016
The new GST tax is on the agenda since 2011, as it is a major hindrance for moving goods across India's state boundaries. Each state has its own tax policy and regulations- a big headache for businesses. The Modi government faces a challenge in setting the rate for GST at a level that does not spark inflation, helps job growth and manufacturing. It is a big win not just for the Modi government but for India, even though it took so long to pass the legislation.
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India's revised GDP numbers and new methodology in 2015
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Under the revision the growth for 2013 is at 5.1%, for 2014 6.9% and the forecast for 2015 at 7.4% The weaker role of the private sector will be made up by government infrastructure spending for roads, railways and housing.
Grouped Articles
India Growth Rate Set to Rival China
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Times of India Blog 05/30/2018
India Has a Banner Year for Deals and Overtakes China as a Favored Target
WSJ 12/25/2018
The global economy in 2015-2016- slowing growth in China, Brazil, Russia and Turkey, as growth picks up in the U.S. and India, and Europe emerges from the eurozone debt crisis
11/29/2015
High debt to GDP ratios in China, Brazil and Turkey lead to slowing growth. India is the exception in emerging markets as foreign investment increases and GDP growth is above 7%, with a boost from halving of oil prices. Europe sees the need for more quantitative easing, and the U.S. makes a slow recovery. Russia may see an improvement after a large devaluation of the ruble. Argentina's prospects are seen as improving with a change in government. Canada sees a change from the drift in the last years of the Harper government and the hollowing out of the industrial sector, with the election of Justin Trudeau. Overall the situation in 2015-2016 is a marked improvement compared to ten years earlier in 2005, as debt issues are tackled seriously in Europe and the U.S. and governance in the private sector improves.
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