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New Delhi April 5 Indian companies have made foreign direct investments (FDI) worth $23 billion in January and February of the current year, higher than $21 billion made in the whole of 2006, said Dr Ajay Dua, Secretary, Department of Industrial Policy and Promotion.

Speaking at a meeting organised by the Confederation of Indian Industry, Dr Dua said, "The small and medium enterprises are increasingly acquiring companies to gain theadvantages of quick scale-up, technology acquisition and benefits of innovation."

Moreover, a large number of SMEs have approvals to invest abroad, thus making the process of acquisitions faster, he added.

Dr Dua said the size of company was no longer valid in relation to mergers and acquisitions. "Going forward, what will be more important is your bona fides, your products and your entrepreneurial ability. India's growth in the future will be influenced by a range of mergers and acquisitions," he said.

More Stories on : Overseas Investments | Foreign Direct Investment | Mergers & Acquisitions

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