India’s Corporate Deals Hit Six-Quarter High in Q3 2025
India’s corporate deal market surged to a six-quarter peak in Q3 CY25, recording 999 transactions worth USD 44.3 billion, according to a PwC report. This represents a 13% volume increase and a sharp 64% value jump from the previous quarter.
Key Takeaways
- Total deal value reached USD 44.3 billion across 999 transactions
- M&A deals drove growth with 518 transactions worth USD 28 billion
- Both domestic and cross-border activity hit six-quarter highs
- Average deal sizes increased significantly across M&A and PE segments
Mergers and Acquisitions Lead Growth
M&A activity showed remarkable momentum with 518 deals totaling USD 28 billion – a 26% volume increase and 80% value surge quarter-on-quarter. The average M&A deal size grew to USD 74 million from USD 59 million, indicating strong preference for larger strategic deals.
Domestic M&A remained the primary driver with 381 deals, marking a 30% increase. Cross-border transactions also strengthened significantly, with inbound deals rising to 55 and outbound transactions reaching 82 – both at six-quarter highs.
Private Equity Shows Stability and Growth
Private equity activity remained stable while showing quality improvement. The average PE deal size increased to USD 38 million from USD 27 million in the previous quarter, reflecting renewed focus on larger, higher-quality investments.
Sustained Market Transformation
Over the past six quarters, India’s total deal volume has expanded by 61% while overall value has nearly doubled. This highlights the country’s transition toward a more mature and value-driven investment environment. Both M&A and PE investors are increasingly targeting strategic, scale-oriented opportunities with global relevance.
The Q3 CY25 performance reinforces India’s position as one of the world’s most dynamic deal markets, attracting significant global investor interest while domestic companies expand their international footprint.
