Edited by John R. McIntyre, Silvester Ivanaj, Vera Ivanaj and Rabi N. Kar
Chapter 13: Resource dynamics of outbound acquisitions: evidence from the Indian IT industry
The rise of emerging market multinational enterprises (EMNEs) as important players in the global economy has been a significant feature of global business in the last decade. In the Indian context, the period from 2000 to 2013 witnessed an unprecedented boom in outbound foreign direct investment (FDI) activity, led by overseas acquisitions of firms in the information technology (IT) and pharmaceutical sectors, driven by the search for markets and strategic assets (Varma, 2009). The Indian IT sector has emerged as the most internationalized sectors of the economy, driven by the global demand for skilled technical labor (Parthasarthy, 2004), facilitated by government policy, the role of the diaspora at different stages of industry development and the push given by the industry association NASSCOM (Kapur, 2002; Bhatnagar, 2006) in promoting Indian software as a global brand (Varma and Bagoria, 2013).
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