Temasek to invest $10 bn in India
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New Delhi: As the Indian economy remains resilient on its way to become the world’s third-largest one sooner than expected, Singapore’s sovereign wealth fund Temasek is aiming to invest an additional over Rs83,000 crore ($10 bn) in the country in the next three years.
The potential sectors Temasek is eyeing for investment in India are healthcare, consumption, financial services, digitisation and sustainability, according to reports.
Ravi Lambah, Temasek’s head of India and strategic initiatives said the new investment will take Temasek’s total investment in India to a massive $47 billion.
The $10 billion potential investment excludes what Temasek subsidiaries will invest in the country, according to the company executive. Temasek has been investing in the country for the last 20 years and its India exposure makes up 7 per cent of its global portfolio by underlying assets, up from 4 per cent in 2020.
The Singapore-based wealth fund has invested in Indian companies like Mahindra Electric Automobile Limited (MEAL), Zomato, Lenskart.
Eyewear retailer Lenskart in June raised $200 million in secondary investment from Temasek and Fidelity Management & Research Company (FMR).
India’s economy is growing rapidly, amid a stock market boom, making it an ideal nation to invest as China falters.
