New Delhi, Jan 21: India’s deal-making landscape witnessed a landmark year in 2024, with a record 2,186 deals valued at $116 billion, marking a 33 per cent increase in volumes and 76 per cent surge in values (year-over-year), a report showed on Tuesday.

Driven by India’s status as the fastest-growing G20 economy, with a 7 per cent growth rate driven by robust domestic demand, the country’s deal-making activity reached new heights, defying global economic uncertainty, and demonstrating the resilience of its economy, according to the Grant Thornton Bharat ‘Annual Dealtracker 2024’.

“As we look ahead to 2025, we are optimistic about the prospects for continued robust deal activity, fuelled by government reforms, a stable economy, and a thriving tech ecosystem, making India an attractive destination for investors despite global uncertainties,” said Shanthi Vijetha, Partner, Growth at Grant Thornton Bharat.

The mergers and acquisition landscape witnessed a record-breaking year, with 683 deals valued at $44.1 billion, marking a 37 per cent increase in volumes and a 75 per cent surge in values compared to the previous year.

Domestic consolidation drove growth, with 479 deals amounting to $23.5 billion, a 64 per cent increase in values, led by Indian conglomerates such as Adani Group, Aditya Birla Group and Nazara Technologies.

Outbound M&A also witnessed significant growth, with 121 deals valuing $16.9 billion, driven by two billion-dollar deals, according to the report.

The private equity landscape demonstrated resilience in 2024, with 1,298 deals raising $31 billion, up from 1,046 deals valuing $27.4 billion in 2023.

The year witnessed a 26 per cent rise in high-value deals (estimated at and over $100 million) and two billion-dollar deals.

The initial public offerings (IPO) activity reached unprecedented heights in 2024, defying global economic headwinds, with 86 listings raising a record $21 billion, more than triple the $6.2 billion raised in 2023, said the report.

New Delhi, Jan 21: Union Minister for Commerce and Industry Piyush Goyal and Bernard Quintin, Belgian Minister of Foreign Affairs, European Affairs and Foreign Trade, held bilateral talks in Brussels to boost trade and investment ties across the spectrum, it was announced on Tuesday.

The meeting reinforced the longstanding relationship between India and Belgium, built on shared values of democracy, rule of law and independent judiciary, according to a statement by Ministry of Commerce and Industry.

The two leaders discussed ways to expand economic cooperation, and explored new avenues to advance this partnership.

“We had fruitful discussions on the upcoming Belgian Economic Mission to India and explored avenues to deepen mutual trade and investment ties, with a focus on sustainable technologies, semiconductors, gems and jewellery, healthcare, and agricultural products,” Goyal posted on X social media platform.

Both the leaders acknowledged Belgium’s significant reliance on foreign trade and India’s dynamic, growing economy as key factors for leveraging mutual opportunities.

“Recognising the potential of trade as a cornerstone of their partnership, they emphasised the importance of diversifying trade relations and deepening economic diplomacy to achieve sustainable growth,” according to the ministry.

The leaders also discussed the progress of the EU-India Free Trade Agreement (FTA) negotiations and emphasised the importance of prioritising trade issues to streamline negotiations and strengthen economic relations.

The India-Belgium trade is estimated at over $15.07 billion in 2023-2024 while foreign direct investments (FDIs) from Belgium into India was estimated at over $3.94 billion.

Emerging sectors such as renewable energy, life sciences, infrastructure, digital technologies, and food products were highlighted as key areas of collaboration.

Belgium recognised the importance of engaging with India as a strategic partner to diversify its trade relationships.

Regulatory barriers, particularly in the approval processes for pharmaceuticals and agri-products, were also discussed, with both sides agreeing to tackle these challenges through continuous dialogue.

The meeting concluded with a commitment to establish stronger mechanisms for resolving trade issues. Both leaders affirmed their dedication to fostering a robust and mutually beneficial trade partnership.

“This high-level engagement marks a significant step in advancing India-Belgium trade relations, strengthening their shared vision for economic growth and sustainable development,” the ministry noted.

Mumbai: Chief Minister Devendra Fadnavis expressed confidence at the Pan IIT World of Technology global conference that technological help can bring revolutionary changes in the field of health, agriculture and rural development. Chief Minister Fadnavis said, “With the help of technology, it will be possible to bring about radical changes in the health sector and provide more convenience to human life. The state government is using new technologies to improve the ‘ease of living’ of citizens.”

Chief Minister Fadnavis was speaking at this global conference organized at Jio Connection Center in Mumbai. Dubai Economic Development Corporation Chief Executive Officer Hadi Badri, Union Science and Technology Department Secretary Prof. Abhay Karandikar, scientist Raghunath Mashelkar, Pan IIT Chairman Devasi Bhattacharya and other experts were present at the event.

Chief Minister Fadnavis spoke about the state government’s efforts to make Mumbai the global capital in the field of fintech and data centers and said, “Mumbai will have the opportunity to move ahead in the technological era. India is making tremendous progress in technology and economic development, and Maharashtra is working to become a trillion dollar economy.”

The Chief Minister also said that the state government is also taking technological help in the agriculture sector. Solar energy technology is being used to provide electricity to farmers during the day, and a target has been set to achieve 16 gigawatt solar power by 2026. “Maharashtra is the first state in the country to set up solar energy companies for agriculture,” Chief Minister Fadnavis clarified.

The Chief Minister further said that the state government is providing health services in remote areas with technological help and an insurance cover of Rs 5 lakh is being provided to every citizen under the Mahatma Phule Jan Arogya Yojana. “Through the Jalyukt Shivar Abhiyan, 24,000 villages in the state have been provided with water,” he said.

Praising the research and technological development work of IIT Mumbai, Chief Minister Fadnavis said, “IIT Mumbai is no longer just an educational institution but has become the ‘Indian Innovation of Technology’. Work is going on on the Drona project and big changes are being brought in life with the help of technology.”

IIT researchers, professors, students and technology experts were present at the event.