India’s corporate deal market continued its strong upward momentum in the third quarter of 2025 (July–September), notching up 999 transactions worth $44.3 billion, according to a report by PwC .
This marks the highest level in six quarters, reflecting a 13 per cent rise in deal volume and a 64 per cent surge in value compared with the previous quarter.
“India’s deal market continued its upward trajectory in Q3 CY25, recording 999 transactions valued at $44.3 billion,” the PwC report stated, as cited by news agency ANI.
The report defines the deal market as comprising corporate transactions such as Mergers and Acquisitions (M&A) and Private Equity (PE) investments, which together drive corporate expansion and funding.
The third quarter’s strong growth followed a minor slowdown in Q2 CY25, with M&A activity leading the recovery.
PwC noted that M&A deals accounted for 518 transactions worth $28 billion, representing a 26 per cent increase in volume and a striking 80 per cent jump in value on a quarter-on-quarter basis.
The average M&A deal size rose to $74 million in Q3 from $59 million in the previous quarter, indicating a shift toward larger and more strategic deals.
Domestic M&A was the main growth driver, making up 381 deals, a 30 per cent rise from the previous quarter.
Cross-border activity also picked up, with 55 inbound and 82 outbound transactions, both reaching their highest levels in six quarters.
This trend, as per ANI, underlines India’s growing appeal to global investors and the expanding international footprint of Indian companies.
Private equity activity remained steady, but the average deal size increased to $38 million in Q3 from $27 million in Q2, signalling renewed interest in larger, high-quality investments.
Over the past six quarters, India’s total deal volume has grown by 61 per cent, while the overall deal value has nearly doubled, reflecting a shift toward a more mature and value-driven investment ecosystem.
PwC concluded that with rising deal sizes and stronger investor interest, India continues to reinforce its position as one of the world’s most dynamic deal markets.
This marks the highest level in six quarters, reflecting a 13 per cent rise in deal volume and a 64 per cent surge in value compared with the previous quarter.
“India’s deal market continued its upward trajectory in Q3 CY25, recording 999 transactions valued at $44.3 billion,” the PwC report stated, as cited by news agency ANI.
The report defines the deal market as comprising corporate transactions such as Mergers and Acquisitions (M&A) and Private Equity (PE) investments, which together drive corporate expansion and funding.
The third quarter’s strong growth followed a minor slowdown in Q2 CY25, with M&A activity leading the recovery.
PwC noted that M&A deals accounted for 518 transactions worth $28 billion, representing a 26 per cent increase in volume and a striking 80 per cent jump in value on a quarter-on-quarter basis.
The average M&A deal size rose to $74 million in Q3 from $59 million in the previous quarter, indicating a shift toward larger and more strategic deals.
Domestic M&A was the main growth driver, making up 381 deals, a 30 per cent rise from the previous quarter.
Cross-border activity also picked up, with 55 inbound and 82 outbound transactions, both reaching their highest levels in six quarters.
This trend, as per ANI, underlines India’s growing appeal to global investors and the expanding international footprint of Indian companies.
Private equity activity remained steady, but the average deal size increased to $38 million in Q3 from $27 million in Q2, signalling renewed interest in larger, high-quality investments.
Over the past six quarters, India’s total deal volume has grown by 61 per cent, while the overall deal value has nearly doubled, reflecting a shift toward a more mature and value-driven investment ecosystem.
PwC concluded that with rising deal sizes and stronger investor interest, India continues to reinforce its position as one of the world’s most dynamic deal markets.
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