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Kamal Nath, Assocham hail Mittal bid

"Criticism of Mittal's bid against the services textured in WTO"

New Delhi: Even as Mittal Steel and Arcelor representatives are trying to hammer out a merger deal, Commerce and Industry Minister Kamal Nath said Lakhsmi Mittal's bid demonstrated the "intellectual ability" of Indians and People of Indian Origin.

"There is a new economic architecture and India and countries, which had a different mindset, now have to face it that in the new global architecture, India has to be a major player," Mr. Nath, who is currently on a U.S. tour, told television news channel Times Now.

The criticism of Mr. Mittal's bid by some countries just because he happened to be of Indian origin was against the services textured in the World Trade Organisation, he said.

Assocham president Anil K. Agarwal said on Sunday that Mr. Mittal made the country proud by his takeover bid.

Though the takeover was subjected to many controversies in the past, it had finally reached its logical conclusion, Mr. Agarwal added in a statement. He extended his congratulations to Mr. Mittal. — PTI, UNI

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