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Despite surge, still a long road ahead for start-up M&As in India
Merger and acquisition (M&A) activity in India's start-up ecosystem is increasing, but it will take two to five years more to gain scale. 74% of M&A deal value since 2014 was contributed by eight big buyouts, many of which were driven by industry consolidation. M&A activity is important for a start-up ecosystem as it gives investors more than paper gains, which lets them make further investments.

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