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August 2010 
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Indian Election Result Could Galvanise Private Equity |
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Claire Spencer, May 2009 |
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(18 May 2009)
Dealmakers and investment bankers have told the Calcutta Telegraph that private equity deals will pick up in India thanks to a clear win by the United Progressive Alliance (UPA) in the recent elections. They feel that a majority government will be more able to push needed reforms through.
“Whether it is privatisation or more public-private-partnership projects, this government is expected to push proposals. That is attractive to foreigners waiting for an opportunity in this market,” asserted Jayesh Desai, Ernst & Young’s transaction advisory director, when speaking to the Calcutta Telegraph.
Another source told the paper that this will change the way that foreign private equity firms view India, going forward.
“So far, big private equity firms in India were selling the consumption story to their head offices in the United States. Now, they’re going to talk about reforms – regulatory and governance-oriented,” said an anonymous banker.
The report cites figures from Grant Thornton, which show a slight rise in the value of private equity investments for April this year – 15 were announced, worth $493.94m. M&A activity in general has also risen.
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