Indian Tech Deals Surge in Q3 2024: A New Wave of Strategic Investments

The Indian tech sector saw a surge in deals worth USD 635 million in Q3 2024, marking a 31% annual increase. Strategic investments increased, driven by a US Fed rate cut and post-election stability in India, according to Grant Thornton Bharat's report. M&A activity rebounded with notable volume and value growth.

The Indian tech sector witnessed a significant upswing in deals, amounting to USD 635 million during the July-September period of 2024. This represented a 31% increase in value year-on-year, according to a recent report by consultancy firm Grant Thornton Bharat.

Grant Thornton Bharat's Q3 Dealtracker report highlighted that while this quarter saw the highest deal volumes since Q2 2023, it had the lowest for 2024, indicating a shift towards more strategic investments rather than large-scale acquisitions.

Raja Lahiri, a Partner at Grant Thornton Bharat, noted that the US Fed's recent interest rate cut, alongside India's post-election stability, has injected fresh momentum into the deal landscape, with significant growth in both value and volume observed.