PE investments in India’s consumer sector at 4-year high in 2025: Equirus Capital
There is high interest among PE investors for the consumer sector
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Reflecting India’s robust consumption growth story, private equity investments in the overall consumer sector have hit a 4-year high in terms of both deal value as well as number of deals, as per an analysis by Equirus Capital. Cumulative private equity and venture capital investments in the consumer sector rose to ₹35,800 crore in CY2025, compared with ₹23,000 crore in CY2024 and ₹32,200 crore in CY2022, the data shows
The total number of such investment deals stood at 309 in CY2025, up from 232 in CY2024 and 251 in CY2022.
Bhavesh Shah, Managing Director, Head – Investment Banking, Equirus Capital, said: “We have seen the highest activity in terms of PE and VC investments in the consumer sector in CY2025, compared to the last four years, both in terms of deal value and the number of deals. This indicates there is a good amount of interest among PE investors for the consumer sector, which are generally capital efficient businesses. A lot of brands have seen good growth over the years and have matured. It reflects the potential of the consumption story that India offers. We expect this level of investment activity to continue going forward.” He added that nearly 121 M&A deals closed in the consumer sector in CY2025 compared to 74 deals in the previous year.
“There has been a good amount of investor interest in the overall food sector, including the health food segment. We have also seen deal activity in the home and personal care segment. The beauty and personal care especially the D2C brands have seen good traction,” Shah stated.
He added that with growing private equity interest, the focus on data-driven strategy, unit economics, supply chain resilience and scalability has sharpened in the sector. This also comes at a time when quick commerce and e-commerce is reshaping consumer buying behaviour and distribution models.
Asked about future outlook, Shah pointed out that there is high interest among PE investors for the consumer sector. “This is also because many have seen lucrative exits due to companies going for an IPO. Also, they are flush with capital raised for themselves in recent times,” he added.
Published on February 11, 2026
