In 2023, M&A deals in India decreased by 10% and total deal value declined by 38%. However, India s appeal to international investors remained strong, with solid economic fundamentals and an anticipated upswing in 2024.
India witnessed a 73% fall in the value of merger and acquisition deals in 2023 compared to the previous year. The local market saw 90 M&A deals valued at $32 billion last year, a decline from 109 deals worth $100 billion in 2022. However, the 2023 deal volumes surpassed levels seen over the past 10 years.
In November, the total value of business deals in India increased to $6.541 billion, more than double compared to October. However, the number of deals decreased from 167 to 132, mainly due to a drop in private equity investments, according to a report by Grant Thornton Bharat.
The number 5 ranked auditor has signed up with executives from some of the Big four accounting firms such as PwC and KPMG but is yet to announce the hiring as the people are still serving out their contracts at existing employers.