GST, bankruptcy laws to facilitate mergers and acquisitions: PHD Chamber

New Delhi: Industry body PHD Chamber on Thursday said the Goods and Services Tax (GST) and bankruptcy laws will emerge as facilitators for both inbound and outbound mergers and acquisitions (M&A) in the country.

"With GST and bankruptcy laws in place, prospects for mergers and acquisitions both inbound and outbound would grow proportionately in India," the industry body said in a forecast.

The forecast was revealed at the "Global Investment and Acquisitions Forum 2016" under the joint aegis of PHD Chamber of Commerce and Industry, Corporate Catalyst India and M&A Worldwide.

According to the business body, global majors have strategised to launch their corporations and begin business with their counterparts in the joint venture sector.

"India is no longer experimental zone for multi nationals for their operations as it has evolved so much in the last couple of years that global giants have strategies for setting up of their operations in India," the forecast said.

"This change has come after the new government has come to power with Prime Minister Narendra Modi at the helm of affairs."