The purpose of this study is to understand the trend, growth and emergence of private equity investment in India. Study involves discussion on the concept of private equity, its structure, emergence and drivers of growth. Data on private equity investment (deal value and volume) and exit (deal value and volume) is collected from 2004q1 to 2017q and log-lin regression analysis is performed. Study finds that private equity investment is a volatile activity in India. Over the past 13 years (2004-2017), the year 2015 attracted maximum investments and witnessed highest exits from private equity investors. IT&ITeS and real estate are the most preferred sectors. And late and growth stage companies are the most desired businesses for investment such institutional investors. Regression analysis report quarterly growth of 3.8% in investment value and 2.8% in investment volume from private equity investors. Also, results show quarterly growth of 3.4% in exit value and 2.7% in exit volume.