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On the domestic front, the policy review also recognizes that domestic economic activity is expected to remain resilient, helped by the continued focus on capital and infrastructure spending in the Union Budget 2023-24.
“While the deal activity has been subdued, the Indian market is still seen as providing good opportunities for deals/investments. As a result, the Union Budget 2023 has avoided populist measures in the pre-election year and has prioritizing long-term growth,” Vijetha added.
Merger and acquisition (M&A) deal activity saw a significant decline in deal numbers by 48 percent and values by 47 percent, clocking 24 deals at $755 million compared to February 2022.
The startup sector led the numbers with 25 percent of the deals, driven by the fintech segment, which dominated in terms of volume as well as values.