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January 12, 2007 15:29 IST
Fuelled by the increasing appetite of Indian companies and rising private equity investment by European companies in India, bilateral trade between the two trading regions is expected to reach $100 billion by 2010.
According to IndusView, a consultancy firm on mergers and acquisitions, 2007 would see a record number of Indian companies acquiring businesses in Europe, while Western companies would make increased efforts to take a stake in India.
Indian companies spent around $10 billion on overseas acquisitions in Europe in 2006, accounting for 42 per cent of the total companies acquired.
"India fetched an investment of almost $20 billion in 2006, half of which was private equity. Factors in 2007 will leave behind 2006's economic growth far behind," IndusView Chairman Bundeep Singh Rangar said.
The year 2006 was an incredible year of firsts for India, including Infosys' listing on the Nasdaq-100 and record growth in foreign cash reserves and GDP, he said.
Factors such as approval of 150 special economic zones promise to make 2007 a landmark year for India, he added.
"In 2007, this growth is expected to take India into the top five economies in the world," he said.
Indian companies invested $2 billion in UK alone in 2006. With many industries reporting astonishing growth in 2006 in IT, consumer finance and healthcare, there would certainly be more investment overseas, the statement said. Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Discussion Group
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