Indian billionaires buy foreign companies as growth slows at home
India Inc spent $18bn on global buyouts in 2025 and the deal value could cross $15bn in the first half of 2026.
Editorial perspective
AI-assisted
Indian corporations are accelerating their international acquisition strategies in response to maturing domestic opportunities. The $18 billion outlay in 2025 represents a significant capital reallocation by Indian conglomerates seeking growth beyond their home market's increasingly competitive landscape. This trend reflects several dynamics: Indian companies have accumulated substantial cash reserves during previous high-growth periods, domestic valuations have become stretched, and regulatory environments in developed markets have grown more receptive to Indian capital. The projected $15 billion in dealmaking for just the first half of 2026 suggests this isn't a temporary phenomenon but a structural shift in how Indian multinationals deploy capital. For global markets, this matters because it introduces a new class of strategic acquirers with patient capital and operational expertise in emerging markets. These cross-border transactions also signal confidence among Indian business leaders that currency risks and geopolitical complexities are manageable compared to the constraints of their domestic market. The implications extend to valuations in target sectors and potential competition for Western private equity firms.
Editorial perspective
AI-assistedIndian corporations are accelerating their international acquisition strategies in response to maturing domestic opportunities. The $18 billion outlay in 2025 represents a significant capital reallocation by Indian conglomerates seeking growth beyond their home market's increasingly competitive landscape. This trend reflects several dynamics: Indian companies have accumulated substantial cash reserves during previous high-growth periods, domestic valuations have become stretched, and regulatory environments in developed markets have grown more receptive to Indian capital. The projected $15 billion in dealmaking for just the first half of 2026 suggests this isn't a temporary phenomenon but a structural shift in how Indian multinationals deploy capital. For global markets, this matters because it introduces a new class of strategic acquirers with patient capital and operational expertise in emerging markets. These cross-border transactions also signal confidence among Indian business leaders that currency risks and geopolitical complexities are manageable compared to the constraints of their domestic market. The implications extend to valuations in target sectors and potential competition for Western private equity firms.