India Inc's march continues

The truimphant take over saga of India Inc continues with yet another take over this time by Tata Steel with the proposed acquisition of Corus Steel, the Anglo-Dutch giant for almost USD 8 billion. Who would have thought of this scenario when in 1991 the country had almost become bankrupt with less than 1 Billion USD in foreign reserves or the crisis during late 90's when the NRI's came to the rescue through the SBI redemption bonds. The wheel has turned a full cycle and today the Indian companies are going for the kill acquiring large overseas giants with relative ease thanks to the overall financial rating of the country with the institutional investors as well as lending bodies like World Bank and IMF. The proposed acquisition’s combined out put would create one of the world’s largest steel conglomerates across Asia and Europe and needless to say would put the Indian style of corporate governance and leadership under global limelight.

As one of my fellow blogs had mentioned earlier it's only matter of time before the country starts getting the overseas immigrants aspiring for an Indian degree or a job and go through the process of passing TOHFL or TOTFL( Test of Hindi or Tamil as a Foreign language) or an IIV (Indian immigrant visa) quota system for skilled professionals. No jokes and it might be a reality sooner than later!

RK