Accounting firm Grant Thornton on Wednesday said it expects deal transactions to be tepid for the entire year on account of political uncertainties and global economic conditions.
"We see a tepid activity until the general elections primarily because of the political uncertainties but after that we expect the momentum to gear up, considering the number of transactions that are there in the pipeline and also on the Insolvency and Bankruptcy Code (IBC) front," said Pankaj Chopda, director, Grant Thornton.
The deal scene started on a tepid note for the month of January with deals being primarily impacted by inactivity in domestic merger and acquisitions (M&A) and a drastic fall in large transactions.
Chopda said January recorded an overall deal value of about $3.6 billion --about $1.3 billion for private equity venture capitals (PEVCs) and $2.3 billion for M&A transactions.
"On the M&A transaction side, we see a significant dip and that is primarily because we had seen some large transactions in January 2018," he said.