Temasek forecasts robust growth for India over next two years

10 Jul 2024 CW Team

Temasek, a prominent Singapore investor, anticipates India's economy will maintain strong momentum over the next two years, buoyed by significant infrastructure investments and a rebound in private consumption. The company reported a SGD 7 billion increase in its Net Portfolio Value (NPV) to SGD 389 billion for the fiscal year ending March 31, 2024, largely driven by gains from investments in the United States and India.

Highlighting India's economic resilience amid improving macroeconomic and political stability, Temasek emphasised expectations for sustained growth.

They underscored infrastructure-driven capital expenditure, accelerated diversification in supply chains, and a resurgence in private spending as key drivers of this anticipated economic strength.

Temasek's investment strategy remains cautiously optimistic amidst global economic uncertainties, with SGD 26 billion deployed across technology, financial services, sustainability, consumer goods, and healthcare sectors.

Their strategic focus aligns with digitisation, sustainable living, evolving consumption patterns, and increasing life spans globally. While Temasek scaled up investments in Japan and Europe, excluding Singapore, the United States continued to be the primary destination for their capital, followed closely by India.

The year also saw significant divestments amounting to SGD 33 billion, including redemptions by entities like Singapore Airlines and Pavilion Energy. Temasek's net divestment for the year was SGD 7 billion, marking a strategic balance in their portfolio management approach.

(Source: ET)

Infrastructure Transport

07 Apr 2026

Tunnelling Begins for Thane, Borivali twin tunnel project

Tunnelling work has commenced for the 11.84-km Thane–Borivali Twin Tunnel, set to be India’s longest urban road tunnel, marking a key milestone in Mumbai’s infrastructure development.As per a post shared by Mumbai Metropolitan Region Development Authority on social media platform X, the tunnel boring machine (TBM) ‘Nayak’—the country’s largest single-shield hard rock TBM for an urban tunnel—was launched by Devendra Fadnavis on Tuesday. The event was attended by Eknath Shinde and Sunetra Pawar, among other dignitaries. A second TBM, ‘Arjuna’, is expected to be launched so..

Large Format Store Planned At M G Road Metro Station

M G Road station in Bengaluru is set to host the city’s first large-format commercial and experience space, with planning led by Bangalore Metro Rail Corporation Limited. BMRCL has invited proposals to develop and operate a central business district destination at the Purple?Pink Line interchange. The plan positions the station as a commercial hub designed to serve a broad commuter base across the city. The proposal is part of a broader effort to activate transit nodes commercially. Tender documents set a minimum monthly rental of Rs 0.944 million (mn), inclusive of GST, for the large-format..

Government Cancels Auction Of Eleven Critical Mineral Blocks

The government has cancelled the auction of 11 critical and strategic mineral blocks after receiving a poor investor response and failing to attract a sufficient number of qualified bidders. The decision represents a setback to plans to ramp up domestic exploration and production of critical minerals amid global supply chain disruptions and rising demand for materials used in clean energy and advanced technologies. The mines ministry issued an annulment notice setting out the reasons for the cancellations. The annulment notice indicated that the auction process for five mineral blocks was canc..