India's private equity market rose to new heights last year thanks to improving macroeconomic conditions, a slightly better environment for exits and changes in valuation expectations, says a new report by management consultancy firm Bain & Company. Total India PE deal value in 2015, including real estate, infrastructure and smaller deals, grew to approximately $23 billion—an increase of 51% from 2014 and an increase of 34% over peak levels of 2007 ($17 billion), according to Bain's India Private Equity Report 2016, a survey of 29 venture capital and private equity firms.