In a daring strategic move, Singapore’s powerhouse investor Temasek is set to pour up to a whopping $10 billion into India’s vibrant markets over the next three years. The focus? Financial services and healthcare, the sectors that promise growth and stability. This bold declaration comes from none other than Mohit Bhandari, Temasek’s managing director for India investments. Bhandari, exuding confidence in India’s robust economic landscape, emphasized that the nation’s surging economy and record-breaking stock market highs have cemented Temasek’s bullish stance for the long haul.
Temasek’s decision isn’t just about numbers; it’s a calculated shift away from China, which currently grapples with economic and geopolitical tensions. Bhandari acknowledged the cautious approach towards China, noting that profits from investments in the US and India have been pivotal in cushioning the blow from China’s underperformance. With a remarkable 22% of its portfolio in the US and 19% in China, Temasek’s strategic realignment has seen its Americas exposure outstrip China for the first time in a decade. This shift underscores a broader trend where India’s allure as an investment hotspot continues to grow stronger.
Temasek’s enthusiasm for India isn’t just talk; it’s backed by action. The firm has already invested a record $3 billion in the past fiscal year, its largest annual commitment to India so far. Their portfolio boasts big names like HDFC Bank, Ola Electric, and Manipal Hospitals. In a landmark move, Temasek boosted its stake in Manipal Hospitals to 59% with a $2 billion infusion, marking the largest hospital sector deal in India’s history. As Temasek looks to expand its team in India, the message is clear: India’s healthcare sector, with its untapped potential and rising demand, is a multi-decade growth story that Temasek is keen to be a part of.
(Source: Business Standard | Euromoney)
