The US$12.2 billion Tata Steel-Corus deal in late 2006 drew worldwide attention to the increasing value of Indian-backed foreign takeovers. In 2006 alone, Indian companies spent a record US$23.126 billion in foreign acquisitions, according to a survey by market researcher Dealogic a massive jump from the US$4.469 billion in 2005.
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The number of Indian takeovers abroad jumped by more than a fifth from 137 in 2005 to 168 in 2006. There are no signs that the foreign shopping spree will slow down. As of May, the value of Indian-backed acquisitions this year stood at US$11.878 billion.
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