Temasek to Invest $9-10 Billion in India Over Next 3 Years

18 Jul 2023 CW Team

Temasek Holdings, Singapore's state-owned investor, plans to invest $9-10 billion in India over the next three years to capitalize on rising opportunities in consumer retail, health care, and environmentally friendly businesses, according to Ravi Lambah (pictured), the firm's head, investment group, and head, India.

Temasek, which has invested 6% of its $287 billion net portfolio value in India, believes the country's potential are well linked with its investing themes.

“With the highest GDP (gross domestic product) growth globally, combined with a conducive fiscal and monetary policy framework, we are looking to invest $9-10 billion over the next three years in India, subject to finding the right opportunities,” said Lambah, along with two of his colleagues.

According to Vishesh Shrivastav, managing director, investment (India), the firm invests $1 billion in India on average each year, but it has already exceeded that aim by a large margin in FY24, thanks to its $2 billion investment in the Manipal group.

Temasek, an early investor in various Indian companies such as Zomato, Tata Play, and Ola, intends to invest in climate-aligned possibilities such as renewable energy and companies engaged in decarbonization activities.

The company also intends to sell its 20% investment in Tata Play through an initial public offering or sell it back to Tata Sons, which controls the majority holding.

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