Reflecting positive investor sentiment in the Indian economy, 870 mergers and acquisitions (M&A) worth $28.6 billion were announced in 2014 -- up 6 per cent over the preceding year, says a study. About 742 M&A deal amounting to $ 27 billion were seen in 2013, according to a joint study by Assocham and E&Y.
"As many 870 mergers and acquisitions worth $ 28.6 billion were announced in 2014 with 93 per cent of the deals taking place in the form of domestic and inbound M&As, reflecting robust investor interest in the Indian economy," Assocham said in a statement. It also said that outbound transactions had witnessed a "sharp drop during the last year" signifying "far less investor funds going abroad".
Releasing the joint study, Competition Commission of India (CCI) Member U C Nahta said that "in last one year, India has become one of the favourite destinations for investments all across the world.
"It is one fastest growing economies in the world with GDP touching almost 7.6 per cent, whereby returns on capital and the shareholder returns are on a higher side". Domestic transactions accounted for $16.2 billion as compared to $6.2 billion in 2013.