India's Outbound M&A Surge Driven by Supply Chain Resilience
JPMorgan Chase expects an increase in outbound mergers and acquisitions from India as companies seek to secure supply chains against volatile geopolitics. Outbound M&A has already had a strong year, with deals reaching close to $24 billion so far this year.
The trend is driven by factors such as supply chain resiliency, according to Paul Uren, head of investment banking for Asia Pacific at JPMorgan Chase. Indian companies have a favorable 'acquisition currency' and access to capital markets, making them attractive targets for foreign acquisition.
JPMorgan has been active in pursuing opportunities in this space and was an advisor on Sun Pharmaceuticals' $11.75 billion deal to buy Organon & Co. The firm expects more deals like this to happen as Indian companies look to secure key supplies such as critical minerals and energy.