India’s deal-making landscape had a record-breaking year in 2024, with 2,186 deals worth $116 billion, marking a 33% increase in volume and a 76% surge in value compared to the previous year, according to Grant Thornton Bharat’s ‘Annual Dealtracker 2024’ report. This growth was driven by India’s position as the fastest-growing G20 economy, with a 7% growth rate fueled by strong domestic demand.
The mergers and acquisitions (M&A) sector saw a significant rise, with 683 deals totaling $44.1 billion, a 37% increase in volume and a 75% surge in value. Domestic consolidation led the charge, with Indian conglomerates like Adani Group, Aditya Birla Group, and Nazara Technologies driving 479 deals valued at $23.5 billion.
Outbound M&A also saw notable growth, with 121 deals worth $16.9 billion, including two billion-dollar deals. The private equity landscape remained strong, with 1,298 deals raising $31 billion, an increase from 2023’s $27.4 billion.
Additionally, the IPO market saw unprecedented activity, with 86 listings raising a record $21 billion, more than tripling the previous year’s total of $6.2 billion.
Looking forward to 2025, Grant Thornton Bharat’s Shanthi Vijetha expressed optimism, citing government reforms, a stable economy, and a thriving tech ecosystem as key factors that will continue to make India an attractive destination for investors.
