Dealmaking in 2016 has largely been about big-ticket announcements. One can look at the following key trends that shaped the industry: Indian merger and acquisition (M&A) activity rose to $69.75 billion across 1,195 announced transactions in 2016, a record level fuelled by a wave of consolidation and rising confidence in the country’s economic growth prospects; Improved market sentiment and the passing of the new bankruptcy code encouraged foreign and domestic fund managers to bet big in the space; An India-Canada corridor is building up, the top Canadian funds have now made investments worth more than $5 billion in India; Dry powder—the amount of cash with private equity (PE)/venture capital (VC) funds—stands close to a six-year high of $7.1 billion; 2016 also witnessed a comeback of stock deals; Indian promoters are no longer wary of selling their businesses or ceding control; About two dozen private equity industry executives are on the road to raise up to $2 billion for their new funds; The Securities and Exchange Board of India (Sebi) proposed easier norms for both REITs and InvITs in an effort to make it easier for cash-starved developers to raise capital from the public; 2016 has also been a year of initial public offerings as Indian companies have raised $3.7 billion from IPOs so far.