India has been ranked among top 10 acquirers in the US market this year with 16 deals valued at $1.7 billion, says Baker & McKenzie. Majority of these deals were in the pharma sector, with six transactions totalling $1.5 billion, as Indian companies seek to increase their scale in the US generics market, said a report by Baker & McKenzie. Most of these acquisitions are funded internally as Indian companies are generally cash rich.

India is witnessing more cross border M&A deals and beyond 2015, and the country could become a “sweetheart for US deal makers”, as the Indian government continues to pursue reforms to open the economy to foreign investors, said the report. Globally, overall deal activity in the year-to-date is already at $2.91 trillion, well ahead of last year’s pace and cross-border transactions have so far totalled $1.05 trillion.

Did You Know?

• The Federal Reserve System is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act.
• The U.S. Congress established three key objectives for monetary policy in the Federal Reserve Act: Maximum employment, stable prices, and moderate long-term interest rates.
• It’s Headquarters is in Washington, D.C.
• Janet Yellen is the present Chair of the Board of Governors of the Federal Reserve System.