For years, strategic buyers have shied away from India due to tricky tax codes surrounding the buying and selling of assets. This may soon change as the Indian government looks to ease the barrier to entry. Recently, French beauty products company L'Oréal SA (EPA: OR) became one of several corporate dealmakers looking to up their game in India. Consider the recent acquisition of Mumbai-based Cheryl's Cosmeceuticals.

The move boosts distribution across the world's seventh-largest country and coincides with L'Oréal setting aside roughly Rs.970 crore ($156.4 million) for research and M&A.

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