Temasek is looking for the deployment of more capital in India

Temasek is looking for the deployment of more capital in India

Singapore’s state investment arm Temasek, which has witnessed its India portfolio raises to $11Bn, is looking for the deployment of more capital in India, even as the company has slowed down investments worldwide, a senior executive of the firm stated.

The India portfolio of investment firm stood at $11bn as on 31st March 2019, as compared with the nearly $10Bn a year ago.

The head of India & Global head of telecom, tech & media at Temasek, Ravi Lambah stated in Mumbai on Thursday that it is our plan to deploy more capital in India. We would be looking forward to increasing our exposure. The billion-dollars a year which we have been putting for the past 5 years has been great. However, if we can do more, then we would want to do more.

He added on that we have been in a net cash position for almost ten years on our balance sheet, which means that we have more cash on our balance sheet to deploy than we have been able to find opportunities for. We are not aiming any specific number, but in the coming 5 years, if we are not significantly more than what we are now, this will bring disappointment since we do see India as an attractive destination for our capital.

For the year ended 31st March, the company moderated its investment pace all over the world, divesting more at $21bn than the $18bn it invested during the year. But on the contrary, in India, the trend was the opposite, as it increased its exposure to 5 percent in the country in Financial Year 19, as compared to 4 percent in the previous fiscal year. In Financial Year 19, the Singapore firm invested $400M in the National Investment & Infrastructure Fund (NIIF), which is a fund set up by the government of India to boost infrastructure financing in the country.