Cross-Border M&A & Market Entry: USA ↔ India
For US companies acquiring, partnering with or building in India — and for Indian acquirers of US technology and healthcare assets — origination and structuring paired with SEBI-regulated Indian execution via Equirus Capital.
Why this corridor, now
The US–India corridor is the largest and most strategic in Indian cross-border M&A, led by technology, pharmaceuticals and manufacturing. A defining feature is the Global Capability Centre (GCC) build-out: US corporates increasingly locate engineering, R&D and operations in India, often alongside targeted acquisitions of local capability.
The frame differs from Europe's — there is no India–EU FTA here; instead, the corridor runs on the pragmatic normalisation of US–India trade relations and deep talent and capital links. Inbound US strategic and private-equity interest in Indian assets, and Indian IT and pharma buyers of US technology, both remain active.
The US–India corridor is most active in technology, software and AI, Global Capability Centres, pharmaceuticals and healthcare, manufacturing, and financial services.
Who we work with
- US strategic acquirers and PE sponsors of Indian targets — buy-side advisory and structuring.
- US corporates establishing or expanding Global Capability Centres in India.
- Indian IT, pharma and manufacturing groups acquiring US assets under the Overseas Investment Rules.
- Cross-border carve-outs, JVs and technology-plus-equity structures.
What we do
IndoWest provides European-side origination, structuring and process management. Equirus Capital — a SEBI-registered Category I Merchant Banker that has advised on 315+ transactions worth over USD 14.9 billion — provides Indian execution, including the valuation a cross-border share swap legally requires. The combined structure delivers origination and Indian regulatory depth in a single coordinated mandate. See the full scope on our cross-border M&A advisory page, or the wider context in our guide to Europe–India M&A.
The regulatory map, in brief
On the US side: CFIUS review for inbound acquisitions of US businesses, and SEC requirements where relevant. On the Indian side: FEMA / NDI Rules, the Overseas Investment Rules 2022, and SEBI/CCI where applicable. The India–US double-tax treaty may provide relief.
Frequently asked questions
How does a US company acquire an Indian company?
Under India's FEMA / NDI Rules, with pricing guidelines and, for listed targets, the SEBI Takeover Code. IndoWest provides origination and structuring; Equirus Capital, a SEBI Category I Merchant Banker, provides Indian execution including the mandatory valuation.
What is a Global Capability Centre (GCC) and how do you support one?
A GCC is an in-house India centre for engineering, R&D, operations or shared services. We support market entry, site and partner selection, and any bolt-on acquisitions of local capability under the FDI framework.
Does CFIUS affect Indian acquisitions of US companies?
It can. Indian buyers of US businesses may be subject to CFIUS review where national-security-relevant sectors or data are involved; this is scoped and managed at the structuring stage alongside US counsel.
What is IndoWest's role versus Equirus?
IndoWest Capital provides origination, structuring and process management; Equirus Capital provides SEBI-regulated Indian execution. IndoWest does not provide investment management or SEBI-reserved activities.
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