India's M&A Activity to Surpass $60B in 2025

India's mergers and acquisitions (M&A) activity is expected to reach over $60 billion by the end of 2025.

This growth is mainly driven by the financial services sector, which has seen significant deals, including Mizuho's $524 million investment in Avendus and MUFG's $4.4 billion stake in Shriram Finance.

Over 950 deals have been completed so far this year, with a total value exceeding $50 billion.

The banking sector has also seen substantial investment, with over $6 billion flowing into mid-sized banks.

Other notable deals include Tata Motors' $4.5 billion acquisition of Italy's Iveco group and JSW Paints' $1.5 billion acquisition of Akzo Nobel India.

Experts predict that the momentum will continue into 2026, with consolidation expected in the financial services sector and increased activity in tech, IT, healthcare, and speciality chemicals.

Larger companies are likely to continue acquiring smaller rivals to build scale and take advantage of the bankruptcy process to buy assets at lower prices.