Indian Companies Accelerate Global Acquisitions as Overseas Expansion Surges

In late April, Sun Pharmaceutical agreed to acquire New York-listed Organon & Co.’s women’s health and biosimilars business for $11.75 billion, marking one of India’s largest overseas healthcare deals in nearly two decades, Nikhil Inamdar reported for BBC News.

Data from consultancy Grant Thornton show that 162 Indian companies spent more than $18 billion on outbound acquisitions in 2025. (Photo: Tata Motors)

The transaction is part of a broader wave of international acquisitions by Indian companies as domestic growth moderates.

Recent deals include Tata Motors’ $4.4 billion acquisition of Italian commercial vehicle maker Iveco, Coforge’s $2.35 billion purchase of Silicon Valley-based AI firm Encora, and the Bajaj Group’s purchase of a 23% stake in Allianz SE earlier in 2025.

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

Analysts say Indian firms are increasingly targeting Western companies not only for global expansion but also for technology access, scale, and diversification, rather than purely symbolic international expansion as in earlier decades.