Hot Deals in India Net Thin Fees - WSJ.com

"Hoping to cash in on one of Asia's fastest-growing economies, investment banks are increasingly vying for Indian deals. But the rush is eroding the already thin fees, a senior investment banker said.
With Indian companies in acquisition mode, the growth prospects are huge, said Sanjay Nayar, chief country officer for India at Citigroup Inc.
'It has been a record year for corporate and investment banking in India, given the growth in capital-market activity,' Mr. Nayar said."