New Delhi, Oct 23 India’s consumer and retail sector witnessed robust deal momentum in Q3 2025, recording a total of 132 transactions valued at $3.4 billion -- up 6 per cent in volumes and 9 per cent in value compared to Q3 2024, including public market activity, a report showed on Thursday.
According to Grant Thornton Bharat’s Consumer and Retail Dealtracker, excluding public market deals, mergers and acquisitions and private equity (PE) deal activity accounted for 121 deals worth $2.3 billion, marking a 168 per cent increase in value (quarter-on-quarter).
The surge was driven by five high-value deals above $100 million and 26 deals above $10 million, together contributing $2 billion or 89 per cent of total deal value, signalling strong investor confidence in scale, brand strength, and growth-oriented consumer businesses, the report mentioned.
“Q3 marked a decisive rebound for India’s consumer and retail sector, with deal volumes rising to 132 and values crossing $3.4 billion, nearly four times higher values than the previous quarter. The recovery was led by renewed investor focus on textiles, apparel and accessories, and sustained activity in food processing and e-commerce,” said Naveen Malpani, Partner and Consumer Industry Leader, Grant Thornton Bharat.
These categories reflect the intersection of traditional strengths and digital disruption shaping India’s consumption story.
The quarter also witnessed a revival of outbound M&A, with Indian consumer players pursuing cross-border acquisitions to expand product portfolios and strengthen global footprints, Malpani added.
Textiles, apparel, and accessories remained a top focus, attracting significant M&A and private equity inflows, while food processing and e-commerce segments benefited from festive season momentum, with online sales surging and quick commerce capturing growing consumer attention.
The rise in average deal size to $18.8 million from $7.2 million in Q2 highlights a shift toward value-driven transactions, underpinned by larger, capital-intensive deals and selective strategic investments across the sector, said the report.
Public market activity in Q3 2025 saw a strong revival, with six IPOs and five QIPs raising over $1.1 billion, reflecting a sharp 5.5 times increase in volumes and a jump in values from $36 million in Q2 2025.
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