Live
- GMR Airports Unveils AI-Powered Digital Twin Platform to Transform Airport Operations
- India poised to become leading maritime player: PM Modi
- Top Causes of Kidney Stones and How to Recognize Silent Symptoms
- India’s renewable energy capacity logs 14.2 pc growth at 213.7 GW
- Winter Session of Odisha Assembly adjourned sine die
- Biden calls Trump's tariff approach 'major mistake'
- After Drama Over Eknath Shinde’s Chief Minister Race, Maharashtra Cabinet Formation Faces New Tensions
- Egyptian FM, Blinken discuss recent developments in Syria
- Iran's supreme leader says Syria's developments result of US-Israeli 'plot'
- Elon Musk to Purchase $100 Million Luxury Mansion Next to Donald Trump's Mar-a-Lago, Report Reveals
Indian startup sector sees significant drop in deal activity in 2023
The Indian startup sector saw a significant drop in deal activity in 2023 (year-to-date) compared to the same period in 2022, a report showed on Friday.
New Delhi: The Indian startup sector saw a significant drop in deal activity in 2023 (year-to-date) compared to the same period in 2022, a report showed on Friday.
Overall, there was a 39 per cent decrease in the number of deals and a 68 per cent decrease in their total values, according to Grant Thornton Bharat's ‘Q3 Deal tracker Report.’
This decline was particularly pronounced in the mergers and acquisitions (M&A) landscape, where values plummeted by 83 per cent this year. This steep drop can be attributed to the absence of some of the massive billion-dollar deals witnessed in the YTD period 2022, according to the report.
In the private equity (PE) sector, there was a 40 per cent reduction in the number of deals and a 28 per cent decrease in their values compared to YTD 2022.
The third quarter (July-September period) this year witnessed a deal volume of 302 deals with values amounting to $13.4 billion in the country.
In Q3, the startup sector, along with e-commerce and IT & ITeS, led the way, accounting for 64 per cent of total deals.
“With growth-oriented policies, reduced inflation, and increased infrastructure spending, India's domestic growth is set to fuel deal activities, particularly in traditional sectors (pharmaceuticals and healthcare) and the ever-accelerating digital transformation landscape (e-commerce and IT & ITES),” said Shanthi Vijetha, Partner, Growth, Grant Thornton Bharat.
The report said that India's economic prospects for 2023-24 remain upbeat, supported by growth-oriented policies, subdued inflation, and heightened infrastructure investments.
