Business

Temasek eyes up to $10 bn investment in India over three years

• By Newsdesk
• Jul 18, 2023

Business

Singapore's state investment firm Temasek intends to invest approximately $9-10 billion in India within the next three years due to the increasing opportunities available in the Indian economy. 

During the fiscal year 2023, Temasek invested over $1 billion in India and has already deployed nearly $2 billion in the current fiscal year. Notably, Temasek has typically invested around $1 billion per year in India in recent years. On a mark-to-market basis, Temasek's total exposure to India stands at approximately $21 billion.

Ravi Lambah, the Head of Investment Group and India at Temasek, highlighted that the firm's investment decisions are driven by a bottom-up approach. He expressed optimism about the growing opportunities in India, allowing for larger capital deployments in individual investments. Lambah emphasized the consistent policy framework and forward-thinking approach of the Indian government, citing factors such as the transformative impact of GST and the remarkable digitization efforts. Additionally, he acknowledged the government's focus on infrastructure development. Considering these factors collectively, Temasek is now more inclined to invest substantial amounts of capital in promising Indian companies.

Temasek's India portfolio currently constitutes 6% of its global portfolio, marking an increase from 5% in the previous year. Vishesh Shrivastav, the Managing Director of Investment (India) at Temasek, highlighted the growing significance of India's performance and its increasing focus within the firm.

Temasek is particularly interested in investment opportunities in healthcare services, consumption, digitization, sustainability, and energy transition. Lambah emphasized their positive outlook on the healthcare sector in India, citing its substantial underserved demand and its alignment with the long-term trend of sustainable living that benefits populations globally.