Commerce and Industry Minister Kamal Nath said on Monday Hindalco's acquisition of US aluminium major Novelis and the entry of Vodafone as a major player in the telecom sector reflect the growing global confidence in India.
"The latest mergers and acquisitions reflect the growing global confidence in India, its strong fundamentals and the resilience of the Indian economy," Nath said in a statement.
Birla buys US based metal major for $6 bn
Novelis' acquisition by Hindalco would create market access and new opportunities for the Aditya Birla Group firm, he said.
"The developments underline the tremendous value creation by Indian ventures which are now being recognised by the world," he added.
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