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.

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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.

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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.

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