India looks abroad, world looks to India

MUMBAI (Reuters) - India is opening up to the world, and the world wants to come to India.

The potential of a rapidly growing country with a population of 1.1 billion is obvious, and leading executives and bankers will talk to Reuters about the surge in investment flows at the India Investment Summit on December 5 to 7 in Mumbai and Bangalore.

Among the headline grabbing deals this year, India's Tata Steel (TISC.BO: Quote, Profile, Research, Stock Buzz) bought Anglo-Dutch steelmaker Corus Group in a $13 billion deal, and Britain's Vodafone (VOD.L: Quote, Profile, Research, Stock Buzz) paid $11 billion for a controlling stake of Hutchison Essar, the No. 4 carrier in the world's fast-growing mobile phone market.

More deal prospects are in the pipeline, with Tata Motors (TAMO.BO: Quote, Profile, Research, Stock Buzz) one of three companies in the running to buy the Jaguar and Land Rover brands from Ford (F.N: Quote, Profile, Research, Stock Buzz), along with Indian rival Mahindra and Mahindra (MAHM.BO: Quote, Profile, Research, Stock Buzz).

As India, the world's biggest democracy, emerges as a global economic and political player, it can shift markets and has changed the way companies manage customers and back offices through its massive outsourcing industry.

There are also challenges for India. People are concerned about how competition from local conglomerates and foreign firms will impact their lives, and the new wealth is not evenly shared.

The Summit will open with Alan Rosling, an executive director of Tata Sons, the company that oversees the Tata Group's business interests that range from autos to steel and salt to software. Rosling is responsible for the group's international drive.

The software service export sector, which gets most of its income from the United States, has been hit this year by the rupee's 12 percent rise against the dollar and rising wage bills and uncertainty about the impact of the impact of subprime-induced slowdown in the United States.

S. Gopalakrishnan, the chief executive officer of Infosys Technologies (INFY.BO: Quote, Profile, Research, Stock Buzz), will speak at the Summit, as will senior executives of Tata Consultancy Services (TCS.BO: Quote, Profile, Research, Stock Buzz), Wipro Ltd (WIPR.BO: Quote, Profile, Research, Stock Buzz) and MphasiS Ltd (MBFL.BO: Quote, Profile, Research, Stock Buzz).  Continued...