Blitz Bureau
NEW DELHI: The technology sector of India has recorded deals worth $3.9 billion in the first quarter of 2026, which is the highest quarterly deal value since Q3 2022 (around 4 years), even as overall deal volumes declined, a report showed on April 27. A report from Grant Thornton highlighted that a total of 68 transactions were recorded during the quarter, that also includes IPO and QIP activity.
However, volumes fell 8 per cent sequentially, deal value surged 43 per cent, driven by a few large-ticket transactions collectively valued at nearly $3 billion that suggested a clear shift towards high-value, selective investments, it said.
While excluding public market activity, the sector saw 66 deals worth $3.4 billion, with volumes declining 7 per cent quarter-on-quarter but values rising 39 per cent, indicating increasing capital concentration in fewer transactions.
Moreover, deal volumes dropped 26 per cent year-on-year, while total value more than tripled, rising 208 per cent. According to Raja Lahiri, Partner and Technology Industry Leader, Grant Thornton Bharat, domestic technology deal landscape is undergoing a structural transformation, with capital increasingly focussed on high-conviction opportunities.
He also noted that Artificial Intelligence (AI), particularly generative AI, is becoming central to investment decisions, driving capability-led acquisitions in areas such as AI, cloud, and digital engineering, while positioning Indian firms as global consolidators.
