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India Deals At Record High, Surpass China

12/26/2018 12:55:06 PM
written By : Team India Se Print

India is having its busiest year ever for corporate deal making, with foreign buyers spending more in India than in China, reports the Wall Street Journal.

India -china -deals

(Courtesy Wall Street Journal)

Mergers and acquisitions of Indian companies totalled a record US$93.7 billion this year, up 52 per cent from a year ago, according to the financial markets platform Dealogic. Acquirers spent US$39.5 billion in India against US$32.8 billion in China.

India -china -gdp

(Courtesy Wall Street Journal)

The Indian economy is growing faster than China’s. India’s gross domestic product will almost double to $5 trillion by 2030, according to the Indian government think tank NITI Aayog.

India’s S&P BSE Sensex index is up 4.2 per cent this year, making it one of the few benchmarks in the world in positive territory. India’s currency hit record lows earlier this year but the rupee has recovered some ground as oil prices have tumbled.

In the year’s biggest transaction, Walmart Inc. invested US$16 billion for a majority stake in Indian e-commerce firm Flipkart Pvt Ltd. Technology firms have also attracted investors like SoftBank, Naspers and Alibaba. On Thursday (December 20), Naspers said it led a US$1 billion fundraising for Swiggy, a food-delivery app company. In September, SoftBank led a US$1 billion investment in hotel-booking start-up OYO Hotels.

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