India’s deal ecosystem witnessed 2,658 transactions totaling $133 billion in 2025, showing a 21% increase in deal volumes and a 13% rise in values compared to the previous year, as per a report by Grant Thornton Bharat. The report highlighted the resilience and depth of India’s market amid global volatility, with sustained capital inflows driven by robust economic growth and enhanced investor confidence.
The year 2025 saw a surge in large strategic transactions, active mid-market deals, and private capital investments, positioning India as an attractive, resilient, and long-term investment hub, the report noted. Mergers and acquisitions hit record levels with 963 transactions amounting to $60.2 billion, including 14 mega deals exceeding $1 billion, which contributed $34.3 billion or 57% of the total M&A value for the year.
According to Shanthi Vijetha, Partner, Growth, Grant Thornton Bharat, the deal landscape in 2025 signifies a significant turning point for India, where scale, strategy, and selectivity have converged. The resurgence of billion-dollar M&A deals, domestic consolidations, and value-driven inbound investments reflect a growing confidence in India as a strategic long-term market rather than a short-term allocation strategy.
The report also highlighted the steady deployment of private equity and venture capital, coupled with a thriving IPO market, showcasing the maturity and depth of India’s capital market. Vijetha predicted that future deal activities would be steered more by policy continuity, sectoral transformations, and disciplined capital allocation in 2026, rather than cyclical recoveries.
Private equity and venture capital activities in 2025 comprised 1,506 deals worth $36.8 billion, marking a 16% increase in volumes and a 15% rise in values, with six billion-dollar transactions and 72 deals surpassing $100 million. The manufacturing sector led in deal volumes, while banking and financial services emerged as the top contributors to deal values, driven by consolidations and strategic stake sales. Sectors like energy, pharma, healthcare, and infrastructure, supported by policies, also experienced significant momentum.
