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Last Updated : Jul 13, 2018 08:58 PM IST | Source:

Temasek invests $1.5 billion in India in first 3 months of FY19: Report

The company has a positive bias towards India and wants to grow its portfolio here. It also has certain focus areas where it wants to put the capital to work

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Global investment firm Temasek invested $1.5 billion in India in the first three months of FY19, according to a report by Mint.

The company has recently purchased stakes in financial services player AU Small Finance Bank, port operator Adani Ports and Special Economic Zone and payments technology company Pine Labs.

The Singapore-based company is expected to further increase its exposure to India, which is a $10 billion market for it. In FY18, Temasek recorded a net portfolio value of $235 billion.

"The long-term view is to step up India exposure and you are already seeing that happen this year. You may see more of that happening," R Venkatesh, Managing Director of Temasek's India business, told the paper.

Temasek's focus in India will revolve around the theme of consumption and it will continue betting on companies that play to this theme.

"We find the consumption theme attractive as India is well-positioned around that theme. Companies addressing the theme could be in healthcare, technology, financial services, infrastructure," Ravi Lambah, Head - Telecom, Media and Technology and Joint Head of Temasek's India business, was quoted as saying.

The company has a positive bias towards India and wants to grow its portfolio here. It also has certain focus areas where it wants to put the capital to work, Lambah said.

At the global-level,  the company is planning to adopt a more cautious approach to investing in the near term because of macroeconomic  pressures.

However, despite these pressures, India continues to be an attractive destination for the investment firm.

"From a macro perspective, India is still the fastest growing economy globally and fiscals are in good shape. We have seen uniformity and progress in policymaking as well. We have seen implementation of GST and then the debt resolution process being implemented through the National Company Law Tribunal. Foreign direct investment inflow has been robust at $60-$70 billion a year for the last three years. There are a lot of positive aspects," Lambah said.

Temasek now wants to sharpen its focus on areas such as platform investments to tap specific opportunities and early-stage bets in the technology space. It has invested in tech companies like CarTrade and PolicyBazaar.


First Published on Jul 13, 2018 11:31 am
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