Artificial Intelligence (AI) dealmaking activity is picking up in the most populous country in the world, India. In 2024, the number of deals increased 88% to 98 from 52 in 2023 according to CB Insights. India’s rapid adoption of AI makes it an interesting market for venture capitalists. ChatGPT owner OpenAI says India is its second-largest market by user base, with the number of users tripling year-on-year. India has also emerged as the fastest-growing developer population globally and ranks second in public generative AI projects on developer platform GitHub.
Source: CB Insights, March 2025.