Brussels: Finance Minister P Chidambaram on Monday said the bid for Arcelor, by steel tycoon L N Mittal, was not an India-specific issue and the opinion of the shareholders mattered more than that of the French Government.
" Mittal's takeover bid is not an India-specific issue," Chidambaram was quoted as saying by Brussels-based ethnic news service India News in Europe Programme (INEP).
"The French Government may have its opinion, but it is the shareholders opinions that count," Chidambaram said when asked about the French government's pungent comments about Mittal's bid.
The Finance Minister said he was confident that the shareholders would make the right decision at their meeting.
"This issue has only concerned India because Mittal is an Indian born entrepreneur. We are very proud that an Indian is the world's largest steel maker and we wish him good luck in his endeavours," Chidambaram said.
Chidambaram was in Brussels to speak to European Union officials, policy makers and businessmen about India's rapidly growing economy and its future prospects.
"Growth with social justice is imperative," he said making a firm commitment to domestic demand and export driven growth, adding his goal was to eradicate poverty.
Chidambaram also expressed concern over the rising oil prices, urging that the world must unite to find a solution to the oil crisis.
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