May 19 - British banking company HSBC Holdings has expressed interest to buy 73.2 percent of IL&FS Investsmart, an Indian brokerage firm, for 10.03 billion rupees (US$235 million).

HSBC will acquire 43.85% from a Mauritius-based unit of E*Trade Financial Corp and the rest from the Indian brokerage's founder, Infrastructure Leasing and Financial Services, for Rs 200 a share, HSBC said in a statement e-mailed from Hong Kong. "India presents a huge scope for its large savings to be invested in equities, debt and commodities," said Dipak Acharya, who helps manage the equivalent of $22 million as a fund manager at BOB Asset Management Co in Mumbai, reported the Times of India.

April 21 - India has the second highest number of home grown companies that equally compete with multi national conglomerates, says a report put out by the Boston Consulting Group. India, which is second only to China had 11 companies that made it to the list, against China's 15. The report ranks 10 rapidly growing economies that are leading their markets and and fending off fierce competition with innovtive business models.

The report said that common signs of leadership amongst the companies were their ability to customise products and services to meet different requirements of the consumers. While technology and globalisation was on their side, the report said that the home grown companies have often found low cost innovative ways to go national allowing them to take the lead.