India’s Deal Market Shows Strong Resilience with $133 Billion in Transactions, Up 21%

New Delhi: India’s deal ecosystem remained robust in 2025, recording 2,658 transactions valued at $133 billion, reflecting a 21 per cent year-on-year increase in deal volumes and a 13 per cent rise in deal values, according to a report released on Wednesday.

The report by Grant Thornton Bharat highlighted the resilience and depth of India’s deal market despite global volatility, noting that sustained capital inflows were supported by strong economic growth and improving investor confidence.

According to the report, 2025 witnessed a revival of large strategic transactions alongside steady mid-market and private capital activity, reinforcing India’s position as a structurally attractive, resilient, and long-term investment destination.

Mergers and acquisitions reached historic highs, with 963 deals amounting to $60.2 billion. This included 14 mega deals exceeding $1 billion, which together accounted for $34.3 billion, or 57 per cent of the total M&A value for the year.

Commenting on the trend, Shanthi Vijetha, Partner – Growth at Grant Thornton Bharat, said the 2025 deal landscape marked a clear inflection point for India, where scale, strategy, and selectivity converged. She noted that the resurgence of billion-dollar M&A transactions, record domestic consolidation, and value-driven inbound investments reflected growing confidence in India as a long-term strategic market rather than a tactical investment choice.

Vijetha added that steady private equity and venture capital deployment, combined with a record-breaking IPO market, underscored the depth and maturity of India’s capital ecosystem. She further projected that deal activity in 2026 would be driven less by cyclical recovery and more by policy continuity, sectoral transformation, and disciplined capital allocation.

Private equity and venture capital activity accounted for 1,506 deals worth $36.8 billion, representing a 16 per cent increase in volumes and a 15 per cent rise in values. This included six billion-dollar deals and 72 transactions valued above $100 million.

On a sectoral basis, manufacturing led in deal volumes, while banking and financial services emerged as the largest contributor by value, supported by consolidation and strategic stake sales. Policy-backed sectors such as energy, pharmaceuticals, healthcare, and infrastructure also recorded strong momentum during the year.

— With inputs from IANS