R Seshasayee, president of Confederation of Indian Industry (CII), while commenting on the Tata Steel-Corus deal, said: "We are delighted of course. The Tata Steel - Corus agreement is a sign of a confident India Inc being recognised as a very significant global economic player. The internationalisation of the Indian corporate sector has reached a new high with this landmark deal." "Indian companies have displayed the right balance of ambition and confidence in recent times. And in times to come, this trend would become the rule rather than an exception. They are globalising consistently and sensitively," he added. Sunil Kant Munjal, past president of CII, said the Tata-Corus deal signified three things: "The fact that the Indian companies, especially larger corporates, are actively pursuing their global aspirations; that groups like Tatas are showing leadership in many fields; and thirdly, the Indian steel industry seems to have come of age having been at the beginning of consolidation last year. This is a pre-cursor of what we can expect over the next 3 - 4 years."Tarun Das, chief mentor of CII, said this is the first scaling up of an Indian company to global scale. "It is a result of a dialogue between Tata Steel and Corus. The whole strategy is a reflection of the Tata philosophy of working with partners with values and ethics. It is a different role model of acquisition, and it is unique," Das said.
