Twin Wins.

In the past 24 hrs there have been two great victories for India, more pecisely one for India in the series win against West Indies and the other one for Tata by clinching the Corus deal in a battle that went to the wire.

The corus deal shows that now indian companies are ready to take on the world. It represesnts a new bold face of india which is not only a emerging FDI destination but which is also investing in other countries. Though this deal is not as big as the previous deal between Arcelor Mittal that made them the biggest steel makers in the world but it assumes greater significance because:-

1) It is made by a truly Indian Company i.e by Tata vis a vis Mittal which has majority of its operations outside India. In case of LN Mittal the only cause of our exultation over the deal was due to his indian origin.

2) It is valued at $12.1 billion making it the biggest takeover by any indain comapny in India's history which has seen it emerging as a major economic hub.

3) It also diplayed that Indian companies are willing to take more risks. If you compare tata's initial bid of 455 pence a share to the final settlement at 608 pence a share then u do not need to be a great manager or matahematics expert to see the increase in the valuation of the prized entity. This bidding process between Tata and Corus which went for 9 rounds and finally culminated in Tata's winning the battle shows the strenghth, courage, flexibility and quick decission making capabilities of Indain companies.

All in all its a great day ceratinly for the indain econommy at least. Considering that indain govt. has offered to help Tatas in every way it can, it should now be smooth sailing for the deal. Also with tata steel having the distinction of using the lowest cost steel processing methods without compromising on quality, the deal can be a money spinner for tatas in the long run. As for the present tata's shares have lost by about 10% in the single day mainly on fears that deal may have been over priced. This is always an possibility when a deal of such large magnitude takes place because it certainly puts some finacial strain on buying company. Seems like sitution will be improving soon, as Mr. Ratn Tata put it that investors may be taking a short term view.

The second win saw India's cricket fans go gaga over its win over West Indies(WI) thereby winning the series. All this was more hyped because Sachin has played a agem of in innings in the match (100 of 76 balls). The win has helped to reinstate some faith in team India just before when the stage is all set for world cup. Cricket is said to be game of chance. So for the time being lets hope it was not that chance rather was an indication of indian players coming back to form which is much needed before the crucial world cup begins.

So India seems to be poised to be the centre stage of great development with its anuual growth rate just touching double digit figure. If this continues then there won't be any stopping from its overatking of the US by year 2050 as suggetsed by a study conducted by Goldman Sachs.