According to data compiled by Grant Thornton Bharat, in its annual deal tracker, despite being one of the worst hit countries, India saw a sharp resurgence in deal activity in the third quarter, as a result, total deal value rose by 28 percent to $76.8 billion over 2019.

In sector specific action, telecom industry accounted for 28 percent of the total M&A deal value for 2020, followed by 14 percent in energy sector.

Facebook and Google's investments in Jio were the two biggest deals in the M&A space, followed by the Reliance Retail-Future Group deal.

In the private equity space also, telecom industry accounted for 25 percent of the total deal value, retail and consumer segment's share stood at 16 percent.

To discuss this, CNBC-TV18 spoke to Prashant Mehra, partner at Grant Thornton Bharat.

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(Edited by : Jomy Pullokaran)