Singapore-based investment firm Temasek is deepening its commitment to India, with plans to invest $10 billion in the country by 2026–27. So far, over $6 billion has already been deployed. With its India portfolio now valued at $50 billion—including Singtel’s stake in Airtel—Temasek sees continued potential in India’s stable macro environment and growing domestic consumption.
India currently makes up around 8% of Temasek’s global portfolio, nearly double the share from five years ago. The firm’s India strategy focuses on four key themes: digitisation, consumption, increasing lifespan (healthcare), and sustainable living, including electric mobility.
Temasek’s investments span both traditional and new-age businesses. Its portfolio includes names like Axis Bank, Haldiram’s, Manipal Health Enterprises, Eternal (formerly Zomato), and Lenskart. Earlier this year, it acquired a 9–10% minority stake in Haldiram Snacks Food, valuing the company at $10 billion. Temasek is keen to partner with more family-owned businesses in India to create long-term value.
Vishesh Shrivastav, Managing Director of Temasek’s India investment team, said India is “fairly shielded against global geopolitical shifts and macro uncertainties on the back of robust domestic consumption.” He added that there’s no need to change guidance, as the firm remains confident in its growth outlook.
“Geopolitics is one of the biggest risks to investments today, and our focus is to build a portfolio that is resilient — something that is less impacted by shocks and where the range of outcomes is quite narrow,” said Shrivastav. “India is somewhat unique in the sense that it’s an economy with few dependencies on the external world. It’s mostly a domestic economy, and our portfolio reflects that.”
Temasek mostly makes direct investments in India and supports companies across different stages. Its long-term capital allows it to back startups with high potential without the pressure of exit timelines. Shrivastav mentioned that several startups in its portfolio—apart from Lenskart—are IPO-ready, though he did not name them.
Temasek says it is firmly on track to meet its $10 billion India investment goal by 2026–27, as the firm continues to bet big on India’s rising economic trajectory.
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