The Hindu Business Line : Assocham wants Govt to fine-tune M&A policy

Advertisement

New Delhi Feb. 10 Assocham has sought a comprehensive policy framework for mergers and acquisitions (M&A) to create a conducive taxation environment for corporates acquiring companies overseas.

Speaking at a meeting recently, the Assocham Senior Vice-President, Mr Sajjan Jindal, said, "There is urgent need for an M&A policy that can support Indian corporates to go global with sufficient Government support."

Mr Jindal said he had taken up this issue with the Prime Minister last week, suggesting that fiscal and taxation incentives were needed to be incorporated in the new policy documentation for global M&As.

Panel report

The chamber has already set up a committee comprising M&A experts from Ernst & Young, PricewaterhouseCoopers, Ambit, and the Institute of Charted Accountants of India to suggest measures to make global acquisition a painless exercise.

The committee will submit its report to the Prime Minister and the Finance Minister before the upcoming Budget.

Mr Jindal said the Corus takeover will motivate other domestic players, particularly in areas of textile, pharmaceuticals, telecommunications, automobile and heavy engineering.

He also suggested creation of additional infrastructure facilities within the country to arrest the flight of domestic capital, particularly when adequate raw material supplies are available to make finished products.

More Stories on : Mergers & Acquisitions | Industry Associations

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Moser Baer enters home video market

GSPC may go solo for developing K-G basin block

ONGC seeks Govt nod to serve notice on GAIL

Parveen Travels bags tourism award

Assocham wants Govt to fine-tune M&A policy

Lenzing AG denies selling stake to Birla group

Omax Autos inks pact with Iranian co

Ind-Swift undergoes FDA audit

Hindujas to partner Qatar Telecom, Altimo for Hutch

`Job losses are not far away in Corus'

3M display screen for in-store advertising