Global buys from metal cos on cards
AJAY JINDAL / ETIG
TIMES NEWS NETWORK [ SATURDAY, OCTOBER 25, 2003 03:23:47 AM ]

MUMBAI: We will see global acquisitions from metal companies, which may drive inspiration from LN Mittal’s example. Non- ferrous metals major Sterlite wants to list only on the New York Stock Exchange and be perceived as a global company.

One may also see a big acquisition from Tisco; it is reportedly looking at some Eastern European companies closely.

Another interesting case is ICICI Bank. Lalita Gupte, the deputy managing director, has the mandate of taking the ICICI brand global.

The new entrants to the ranks of MNCs will differ in a very important way from the first few Indian MNCs like Ranbaxy, Essel Propack, Tata Tea, Asian Paints, Hindustan Inks or the Aditya Birla Group.

The ones just named are isolated cases; the result of a visionary top management. The new entrants are the result of a wider process of evolution, a more natural progression of increasing size and large-scale change in mindsets.