Temasek to invest $10 bn in India

Investment firm Temasek Holdings Advisors India is ready with a war chest of around $8-10 billion for possible investments in Indian companies. “We are looking at all possible opportunities, especially those sectors which are proxies for domestic growth,’’ said Manish Kejriwal, Temasek’s senior MD and country head for India. This would include financial services, infrastructure and consumer-facing industries. The investment arm of the Singapore government, Temasek, has recently made investments of $175 million in the National Stock Exchange, $200 million in GMR Energy, besides investments in Essar Energy ($40 million) and Sobha Developers (around $20 million). Though cautious on Europe, Kejriwal remains bullish on India and feels that despite inflation, it would continue to grow. “Within Asia and globally, India remains one of the fastest-growing economies and continues to be one of our key investment destinations. We believe that India is structurally resilient as an economy given low exposure to exports, strong corporate balance sheets, low external debt and a strong banking system,’’ he said. He also feels that though telecom would continue to be one of the sectors to watch out for, he expected large changes and consolidation in the companies operating in the sector.