The Singapore-based investment company, Temasek Holdings decides to increase its foothold in India in the offing as it wants to utilize opportunities that are emerging from thriving economy and increasing middle classes, according to the daily news, VC Circle.
According to cited reports, Temasek says its exposure to India is now around $11 billion. In percentage terms, this has risen to 5 per cent of Temaseks total assets under management in the year through March 2019 from 4 per cent the year before.
Our aspiration is to step up the firms India exposure even further, Deputy India Head of Temasek Holdings, Promeet Ghosh told the daily news.
There are some strong underpinnings of long-term growth in India such as a rising middle-income [population], which is creating affluence, and rising urbanisation, Ghosh added.
Earlier in July, the investment firm stated that it has the smallest surge in its portfolio in 3 years period. The companys portfolio increased by 1.6 per cent for the year till March 2019, which is slower than its previous increment i.e., 12 per cent in the previous year, as reported by the daily news.
Nonetheless, the company is optimistic about the manner consumption as well as technology sectors are evolving in India.
We've been consistently investing about $1 billion every year in India, India MD at Temasek, R Venkatesh told the daily news, VC Circle.
We hope to keep that pace going, Venkatesh added.