Aided by a huge cash-pile and fuelled by a passion to go global, once-insular Corporate India expanded overseas in 2004 like never before by entering into 60 acquisition deals abroad.
This compares with 28 overseas buyout deals inked by Indian companies in 2002 and 49 in 2003, according to India Advisory Partners, a London-based database firm on mergers and acquisitions.
Experts say acquisitions have now become an important driver in the evolution of India's multinational companies, who not too long ago shied away from global competition.
The acquisition drive in 2004 was not restricted to traditional markets like the US and Britain alone - companies went to countries as diverse as Australia, Romania, Germany, Angola, the Philippines, South Korea and Bosnia.
