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Temasek is stepping up the pace to grow its US$40 billion India portfolio
14 JAN 2025 5MINUTE READ
Temasek will invest up to US$10 billion in India over the next three years. The investment firm sees strong structural drivers for future growth in India. Sectors like digitalisation, green transition and healthcare are identified as key opportunities. The political and regulatory environment is seen as stable and conducive for investment.
Today, India stands as the world’s fifth-largest economy and fastest growing market, demonstrating resilient growth amidst a challenging global landscape. With longstanding reforms and demographic dividends paying off, the country has become a leading destination for capital.
Recognising India’s potential early on, Temasek opened its Mumbai office in 2004, marking the company’s first active investment office outside Singapore. Twenty years later, its India exposure of about US$40 billion underscores its long-term commitment to the market.
Ravi Lambah, Head of Strategic Initiatives and Head of India at Temasek, shares more about its history in India, as well as plans to invest up to US$10 billion over the next three years.
Singapore’s state investment fund, Temasek, has added another company to its growing India portfolio by acquiring a stake in Haldiram Snacks Food, a leading player in the South Asian nation’s food industry.
The deal follows investments by Temasek in Indian companies in sectors ranging from healthcare to financial services, in line with its bullish outlook on India’s long-term growth.
While the financial terms of the agreement with Haldiram’s have not been publicly disclosed, sources told Reuters that Temasek had bought a 10 per cent stake in the company for US$1 billion. This translates into a valuation of Haldiram’s at US$10 billion.
The transaction between Haldiram’s and Temasek was the largest-ever private equity consumer deal in India, Sanjeev Krishan, chair of accounting giant PwC in the South Asian country, said in a statement on Sunday without disclosing any figures.