Singapore state investment company Temasek Holdings is looking to invest US$3 million to $5 million a year in India, Ravi Lambah, head of Temasek India, says in an interview with Bloomberg.
He says Temasek could commit as much as $10 billion to India over the next three years through a mix of partnerships, and that the company plans to expand its India team to more than 20 people by hiring four to five investment professionals.
According to Lambah, India covers the four investment themes Temasek has identified for the decade: future of consumption, sustainable living, longer lifespans and digitalisation.
“India is amongst the few countries where we found opportunities that fit all the four themes,” he says in the interview published on July 20.
Meanwhile, Lambah says Temasek likes the financial services sector, noting that it’s easier now to invest in a bank in India.
“A decade ago, could we take a $1 billion-plus position in a listed bank in India? I think it would have been harder,” he says. “Now we can do it over multiple companies, including banks.”
“We like financial services especially banks because they’re a good proxy to economic growth,” he says.
