Other major overseas acquisitions in recent years by Tata Steel, Hindalco, Bharti Airtel, etc have also been a part of their inorganic growth strategies.
In these cases, acquisitions were specifically undertaken to attain global size and status, and to build new competitive  6  BIS central bankers’ speeches  advantages by combining the best international technology with low-cost Indian labour (Satyanand and Raghavendran, 2010). 5 Destinational investment trends Direction of outward FDI shows that it is getting more diversified across countries. Diverting from the past trend (i.e.