India’s consumption story holds appeal, but investors are spending less

India's consumer and retail sector saw a 58% decline in deal value during the September quarter. The first nine months of 2026 recorded 353 deals worth $3.26 billion, reflecting cautious investment strategies. Personal care brands attracted significant investment, indicating a preference for premium offerings. Public markets also contributed substantially, surpassing M&A and PE/VC deal values. However, future demand may fluctuate due to weather-related conditions affecting rural consumption.