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Open to large acquisition in pharma sector, says Ajay Piramal of Piramal Enterprises

Updated : August 21, 2018 06:43 AM IST

Ajay Piramal, chairman, Piramal Enterprises said the company is open to a big acquisition in the pharma sector if the opportunity arises. Piramal highlighted that funding will not be a problem for them and that they were on the prowl for a pharma company with reasonable valuation and long term growth potential.

Speaking on trade wars Ajay Piramal said, "Globally there are trade wars but to some extent, India is not going to be as affected as the rest of the world. Our domestic economy is pretty robust. Almost 55 percent of our GDP is only domestic and that is an advantage that we have."

"In this whole tension with trade wars, the rupee has weakened but it is not the rupee weak as much as the dollar has strengthened. Overall we should come out better in this because with respect to all other emerging markets I look at, the Indian economy is stronger and there is still a lot of interest in Indian economy. In fact I see that after this crisis in July, if you look at the foreign portfolio investments, it is showing a positive after several months of showing a decline," he added.

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