Temasek Foresees Steady Indian Growth Amid Infrastructure and Consumption Boom

Singapore-based investment firm Temasek expects robust growth in India over the next two years, spurred by infrastructure development and a rebound in private consumption. The company's Net Portfolio Value rose by SGD 7 billion, driven by investments in the US and India, despite underperformance in China's markets.

Singapore-based investment firm Temasek is optimistic about India's economic prospects, projecting robust growth over the next two years. This growth is expected to be fueled by infrastructure-led capital expenditure and a revival in private consumption.

For the financial year ending March 31, 2024, Temasek's Net Portfolio Value increased by SGD 7 billion to reach SGD 389 billion, driven largely by its investments in the US and India. Despite global economic uncertainties, Temasek maintained a steady investment strategy, funneling SGD 26 billion into sectors like technology, financial services, and healthcare.

Temasek also noted its cautious yet active investment approach during this period, particularly accentuating its focus on digitization, sustainable living, future consumption, and increased lifespans. In addition to the US and India, Europe and Japan have emerged as growing markets for Temasek's capital inflows.

(With inputs from agencies.)