According to Temasek, India’s growth is likely to remain resilient, driven by capex growth
Singapore-based investment company Temasek reported a S$45 billion rise in its portfolio during FY25, driven by a strong performance by its portfolio companies and direct investments in India, China and the US.
At the end of March 2025, its net portfolio value was S$434 billion, the investment firm said in a review of its performance in the fiscal year.
“Our direct investments in markets like China, the US, and India contributed to the uplift in our net portfolio value over the year,” said Rohit Sipahimalani, Chief Investment Officer, Temasek, in a statement.
“The growth reflects both the impact of shifting macroeconomic conditions on asset prices, and the long-term prospects of our investments aligned with structural tailwinds in these markets,” he added.
He said the firm would continue to invest in its key markets, while also exploring new markets of scale.
On a percentage basis the firm’s exposure to India rose to 8 per cent from 7 per cent a year ago, even as its China exposure fell to 18 per cent from 19 per cent a year ago.
On the outlook for India, the firm said the country’s growth is likely to remain resilient, driven by capex growth. “It will also be accelerated by the recovery in domestic consumption, and the accelerated pace of production from supply chain reorientation.”
It expressed optimism about a US-India trade deal, along with other free trade agreements.
“We maintain a positive outlook given India’s strong domestic market, especially in the areas of consumer, financial services, and healthcare,” Temasek said.
Overall, in FY25, the firm made a net investment of S$10 billion, reversing the net divestment of S$7 in the previous year.
Published on July 9, 2025