INDIA CLOTHING SECTOR FACES WESTERN BUY OUT THREATS
August 1st, 2007
BY RAGHAVENDRA VERMA, in New Delhi
The US$ 165 million takeover of India's largest textile company Gokaldas Exports by the US private equity company Blackstone has received a resounding welcome from the Indian garment industry.
"This is the best thing to happen. It is a clear signal that foreign investors still believe in our potential", Vijay Agarwal, President of Apparel Export Promotion Council (AEPC) told just-style.com, "I hope and pray for many more such deals."
AEPC's views are not isolated. The possibility that Indian proprietors ...
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