Various companies in India are foraying into joint ventures (JV) or are making investments abroad to increase their global footprints. Companies in India like Adani Enterprises, has acquired an Australian coal asset of Linc Energy in a cash and royalty deal worth US $2.7 billion (Rs 12,500 crore). Companies in India have marked their presence globally.
Furthermore, information technology (IT) service providers, Cognizant, Tata Consultancy Services (TCS) and Infosys have topped the latest ranking of service providers in Europe, in a survey done by EquaTerra, an IT advisory service provider. Pharmaceutical companies in India have also increased their penetration in the US generic market. Companies in India like Lupin Pharmaceuticals, Zydus Cadila, Glenmark, Aurobindo, and Torrent Pharma have increased their ranking in US generic market, as per the data released by IMS Health, a global market research agency.
Following the same line of thought, the fast moving consumer good (FMCG) companies are also foraying into acquisitions to increase their global footprints. The FMCG, Marico Limited has acquired the over-the-counter healthcare brand, Ingwe at an estimated investment of Rs 10 crore (US$ 2.14 million) through its subsidiary, Marico South Africa (MSA).
Similarly, the FMCG company, Dabur India Ltd has announced a US$ 69 million acquisition of Turkish personal care products company Hobi Kozemtik Group. The acquisition of Hobi Kozmetik is in line with Dabur’s strategy to aggressively expand its scale of operations and strengthen its presence in the FMCG space across the globe. Looking forward the FMCG firm, Godrej Hershey, a 51:49 joint venture between the Godrej Group and American chocolate maker Hershey’s, plans to roll out some key brands from abroad – Kisses, Reese’s and Hershey’s Chocolate – in the country.
The telecom sector in India is experiencing a push with more and more mobile phone companies venturing into the indigenization effort by bringing global component vendors to set shop in India. The move is part of a strategy to make India a global manufacturing hub for mobile phones, rather than just undertake their assembly. The telecom sector further received an impetus with Pune-based anti-virus solution provider, Quick Heal Technologies Pvt Ltd launching it’s ‘PC2Mobile Scan’, which provides for virus-scan of mobile phones by connecting them to a PC or a laptop.
The science and technology in India will witness an important development with Indian Space Research Organization (ISRO) planning to launch SARAL by 2011, a satellite to monitor sea water levels made in collaboration with the French National Space Agency. Moreover, Mr Praful Patel, Minister for Civil Aviation has launched the final operational phase of the Global Positioning System (GPS) Aided Geo Augmented Navigation system (GAGAN) to further boost the science and technology sector.