Long Term Industry-Wise Trends of Mergers and Acquisitions in India

Abstract

Purpose: This paper aims to examine the long-term trends in corporate consolidation activities in India, with particular emphasis on industry-specific patterns for mergers and acquisitions (M&A) separately.

Design/Methodology: The study employs a descriptive and trend-based research design using secondary data from CMIE economic outlook on M&A deals in India between 1999 and 2025. To examine overall trends, growth phases, and shifts in industry leadership, this study has performed time-series and sector-wise analysis.

Findings: The results reveal a significant transition in India’s M&A landscape from manufacturing and financial-services-led activity towards service-sector, especially post- 2016. Mergers continue to be predominately concentrated in the manufacturing and financial services sectors. In contrast, acquisitions display greater diversification across sectors with services leading recent growth indicating a transition towards restructuring that emphasizes expansion and innovation.

Originality: This study contributes by providing a long-term industry-specific trends on both mergers and acquisitions deals in India.

Paper Type: Theme Based Paper