Sun Pharma, Coforge: Indian businesses go shopping abroad 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.

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It marked the biggest overseas acquisition by an Indian company in nearly two decades and followed a string of high-profile international deals by Indian firms in recent months.

These include Tata Motors' $4.4bn acquisition of Turin-based vehicle maker Iveco, IT company Coforge's $2.35bn purchase of Silicon Valley-based AI firm Encora and the Bajaj Group buying a 23% stake in global insurance giant Allianz SE earlier in 2025.

Data from consultancy Grant Thornton shows that 162 Indian companies spent more than $18bn on outbound acquisitions in 2025 - a 34% increase from the previous year.

"We could cross $15bn in deal value in just the first half of this year," Sumeet Abrol, partner and national leader at Grant Thornton, told the BBC.