India Inc. beat China in raising loans without any clue how the loans will be paid back
Harish Baliga
Jul. 3, 2007

These days India runs on debt and servicing the needs of the western countries. India is a servant nation - a big departure from the days of late PM Indira Gandhi. Native Indians do anything for dollar and euro!

Corporate India's acquisition spree has propelled the country ahead of China in terms of raising syndicated loans as companies have mopped up more than 8 billion dollars so far this year to fund expansion projects.

According to data complied by global consulting firm Dealogic, loans gathered by BRIC nations (Brazil, Russia, India, and China) rose 104 per cent to 78.9 billion dollar so far this year from 38.7 billion dollar in the corresponding period of 2006.

Indian companies account for 10.5 percent of the total syndicated loans by BRIC nations, with borrowings of about 8.28 billion dollars in 2007 so far. This is higher than China's 7.9 per cent or over 6 billion dollar, Dealogic said.

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