Temasek seeks strategic partners, plans to deploy up to $5 billion in investments annually in India.

According to Zhītōng Finance and Economics APP, Singaporean investment company Temasek Holdings Pte is seeking strategic partners and hopes to deploy 3 to 5 billion US dollars annually in India, betting on the country's potential to become a major driver of economic growth.

Ravi Lambah, head of Temasek India, stated in an interview that the state-owned investment company plans to hire four to five investment professionals, increasing its India team to over 20 members. Lambah will continue to lead the investment team.

He mentioned that the company may invest up to 10 billion US dollars in the country within three years and may deploy the funds through partnerships and more listings.

It is understood that Temasek has been increasing its investments in India over the past five to six years, benefiting from the performance of its investment portfolio, attractive population structure, and deepening capital markets. Lambah stated that the company's investment rate in the country doubles every year, with a focus on banking, financial services, healthcare, industry, technology, and consumer sectors. Additionally, the company is also exploring opportunities in decarbonization and energy transition.

"Could we have held positions of over 1 billion US dollars in an Indian listed bank ten years ago? I think it would have been difficult," Lambah said in the interview. "But now we can do that with multiple companies, including banks."

Approximately 60% of Temasek's investments are direct holdings, primarily in the financial services sector. According to Lambah, the remaining investments are made indirectly, such as through investments in Singapore Telecommunications Ltd., which indirectly connects them to Bharti Airtel Ltd., and through investments in Singapore Airlines, which indirectly invests in Vistara.

Lambah stated, "We are optimistic about the financial services sector, especially banks, as they are a good indicator of economic growth." According to compiled data, Temasek holds shares in listed company Industrial and Commercial Bank of India (IBN.US).

Furthermore, Lambah mentioned four investment themes for the next decade for the fund management company with assets totaling 284 billion US dollars: the future of consumption, sustainable living, longevity, and digitization.

"India is one of the few countries where we have found opportunities that align with all four themes," Lambah said. The company is now more bullish on India due to the increasing savings rate, improved government stability, and policy consistency.

Lambah also pointed out that Southeast Asia has great potential, but it is a "comparatively challenging place" to invest in due to the differences between countries. "The key issue is the investable opportunities, not the potential of the country."

Finally, Lambah stated that Temasek is still committed to the Chinese market but acknowledged that "the opportunities have changed."