Godrej eying acquisitions in emerging markets
18 November 2008
The Godrej Group is aggressively eyeing acquisitions in emerging markets even in the uncertain conditions in the wake of the economic downturn. Group chairman Adi Godrej said the group continues to look for acquisitions both within and outside India.
Speaking on the sidelines of the India Economic Summit, he said the group aims to buy established brands of consumer products in developing countries.
Without commenting on the size of the possible acquisitions, he said the group would go for acquisition that would fit its growth plans.
Godrej fielded question on a variety of issues, including the economic downturn, which he said will affect the business-to-business activities and real estate businesses within the group. He said, since the group works in joint ventures with landowners, the projects are doing well, but, he said, the government needs to provide fiscal stimulus in construction and real estate. He further added that the government should faciliate housing projects through fiscal incentives.
On group company Godrej & Boyce's nuclear segment business, Godrej said that with the opening up of the nuclear sector to private players, there is a tremedous opportunity in the sector and could be the next big thing.
The Godrej Group was established in 1897 and has today grown to include companies engaged in a wide range of businesses from locks and safes to real estate, nuclear equipment and machine tools.