Indian tech sector sees deals worth $635 mn in Q3: Grant Thorton report

Indian Tech sector witnessed deals worth USD 635 million in July-September period of 2024, registering a 31 per cent increase in value year-on-year, a recent report has revealed.

Consultancy firm Grant Thorton Bharat's Q3 Dealtracker report for the tech sector said the quarter witnessed the highest deal volumes since Q2 2023 but the lowest for the year 2024, reflecting more strategic investments rather than large-scale acquisitions.

Grant Thornton Bharat Partner Raja Lahiri said the recent interest rate cut by the US Fed, coupled with India's post-election stability, has infused new momentum into the deal landscape, with notable value and volume growth.

"With the elections behind in India, we saw an increase in deal activity both in terms of volume and value compared to the previous quarter.

"Q3 2024 witnessed 79 deals valued at USD 635 million, representing a 5 per cent increase in volumes and a 31 per cent increase in values," he said.

Out of the total deals, 12 were valued at a