This paper traces the recent explosive growth in overseas acquisitions by Indian firms and examines the primary reasons driving this trend. In their quest to become more globally competitive and have a global presence, Indian companies are engaging in overseas acquisition to primarily gain access to customers in new geographical markets, to gain new or advanced technologies or products, and to acquire management talent that has the mind-set and skills to operate businesses in more advanced or competitive conditions. Data show that thus far, Indian companies have also fared reasonably well in their acquisitions, both in terms of meeting their acquisition objectives and creating value for shareholders. Keywords : Growth in overseas acquisitions, globally competetive, global presence, India firms