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Reply #25: India is awash in private equity [View All]

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Ghost Dog Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-11-07 11:13 AM
Response to Reply #15
25. India is awash in private equity

(Fortune Magazine) -- India has never rolled out the welcome mat for foreign companies. Red tape, restrictions on ownership and other barriers have made it difficult for banks, retail giants and media companies to gain a foothold in one of the world's fastest-growing economies. But when it comes to foreign private equity, that's another story.

Indeed, the door is wide open: Foreign private-equity investments in Indian companies doubled to $2.2 billion in 2005 from the previous year, then increased in the first nine months of 2006 to $5.4 billion, according to industry newsletter Venture Intelligence.

And unlike South Korea and Japan, where foreign private-equity groups have been castigated as "vultures," they have been embraced in India - even after scoring big profits, as TPG Newbridge did last year when it netted $260 million selling its stake in Matrix Laboratories to U.S. generics giant Mylan Laboratories (Charts).

"There's a far more mature and benevolent environment for private equity in India," says Leo Puri, director of McKinsey & Co. in India. "Unlike East Asia, there has historically been no distress associated with the involvement of private equity in India."


Hi AnneD :hi: I always pay great attention to what your 'bones' have to say... ;-)
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