India Inc's deal activity at a 6-year low amid Covid-19 pandemic

Last year, India Inc sealed deals worth $88.88 billion in the January-July period, but this year the total transactions are $56.73 billion, fueled mainly by RIL-Jio deals

Deal making by Indian firms saw a sharp fall of 36 per cent in value terms in the first seven months of 2020 compared to the same period last year.

Reliance Industries, which sold stake worth $21.7 billion in Jio Platforms, kept the league tables moving in spite of the pandemic. Without Jio stake sale, transaction value would have been down by 60 per cent. 

“The first half has seen a sharp decline in deal activity which is at a six-year low. This decline has been contributed by both domestic and international deals,” said a banker.

Last year, India Inc sealed deals worth