Annual Dealtracker 2026

Building on the exceptional momentum of 2024, 2025 emerged as another landmark year for India’s deal ecosystem, with 2,658 transactions aggregating USD 133 billion. This represents a 21% y-o-y increase in deal volumes and a 13% rise in deal values, reaffirming the resilience and depth of Indian market despite a volatile global backdrop.

M&A activity reached unprecedented levels in 2025, with 963 deals, marking a 41% y-o-y increase, while deal values climbed 36% to USD 60.2 billion. The year was defined by a rise in large strategic transactions, with USD 14 billion-dollar deals totalling USD 34.3 billion, accounting for more than 50% of overall M&A value, signalling renewed appetite for scale, control and long-term strategic positioning.

PE and VC activity remained robust in 2025, with deal volumes rising for the third-consecutive year to 1,506 transactions, while values reached USD 37 billion, the highest annual deployment since 2022. Value growth was driven by six billion-dollar deals and 78 high-value transactions (≥ USD 100 million), which together contributed 68% of total PE/VC value.