(Reuters) - Private equity (PE) investments in India dropped 23.4% in 2022 from a year earlier, a report from S&P Global Market Intelligence showed on Tuesday.
The decline mirrored a global fall in PE deals as high inflation and rising interest rates dented sentiment, and as fears of an economic downturn prompted Indian startups to slash thousands of jobs in recent months.
India's PE investments fell to $28.27 billion in 2022, while China, the largest economy in the region, posted a 45.1% decline to $70.86 billion, the report said.
However, India's share of the total percentage of PE investments in Asia region rose to 25.1% in 2022 from 11.9% in 2020 - as China's share dropped, S&P said.
Some of the major PE deals last year included a $2.42 billion investment in Sembcorp Energy India, the Indian arm of Singapore-based Sembcorp Industries, and a $1.11 billion investment in Indian pharmaceutical company Suven Pharmaceuticals Ltd, the report added.
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(Reporting by Kashish Tandon; Editing by Sohini Goswami)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
