India’s Deal Ecosystem Thrives In 2025: 2,658 Transactions Worth $133 Billion, Up 21% In Volume & 13% In Value

New Delhi: India’s deal ecosystem recorded 2,658 transactions worth $133 billion in 2025, marking a 21 per cent year‑on‑year rise in deal volumes and a 13 per cent increase in values, a report said on Wednesday. The report from Grant Thornton Bharat said India’s deal ecosystem reflected the market’s resilience and depth amid a volatile global environment. The country attracted sustained capital flows, supported by strong economic growth and improving investor confidence.

The year saw the return of large strategic transactions alongside active mid‑market and private capital activity, reinforcing India as a structurally attractive, resilient, and long‑term investment destination, the report said. Mergers and acquisitions scaled to historic highs with 963 transactions and an aggregate value of $60.2 billion, led by 14 mega deals above $1 billion, accounting for $34.3 billion or 57 per cent of annual M&A value. “The deal landscape in 2025 marks a clear inflection point for India, where scale, strategy, and selectivity have converged.

The resurgence of billion-dollar M&A transactions, record domestic consolidation, and value-led inbound investments reflecting growing confidence in India as a long- term strategic market rather than a tactical allocation,” said Shanthi Vijetha, Partner, Growth, Grant Thornton Bharat. Meanwhile, steady PE and VC deployment, alongside a record-setting IPO market, reflects the depth and maturity of India’s capital ecosystem, Vijetha added.

She predicted that deal activity is likely to be driven less by cyclical recovery and more by policy continuity, sectoral transformation, and disciplined capital allocation in 2026. Private equity and venture capital activity comprised 1,506 deals valued at $36.8 billion, up 16 per cent in volumes and 15 per cent in values, with six billion‑dollar transactions and 72 deals above $100 million, the report said. Sectorally, manufacturing led volumes, while banking and financial services emerged as the largest contributor to values, supported by consolidation and strategic stake sales. Policy-supported sectors such as energy, pharma, healthcare, and infrastructure also saw strong momentum.

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