L&T is lobbying with GoI to insert a clause in bidding rules for power generation equipments that that at least 51% of equity should be held by a domestic company, the Mint has reported. This is aimed at eliminating competitors such as the JVs between Alstom-Bharat Forge, Toshiba-JSW, AnsaldoCaldaie- GB Engineering etc where the foreign players hold majority stakes whereas L&T holds majority stake in their venture. Such lobbying is possible in India because of lack of clarity in policy matters. We prefer to remain on the sidelines and watch the proceedings with keen interest.
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