Singaporean investment company Temasek's India portfolio has grown to $50 billion, and it is chasing opportunities of at least $4 billion more, a senior official said on Monday. "We invested $3 billion each over the last two years, and see a pipeline of at least $3-4 billion this year," its managing director Vishesh Shrivastav told PTI.
He said three years ago, Temasek had given guidance of having an India pipeline of $9-10 billion, and the opportunities it sees right now are in sync with the same.
Shrivastav clarified that all the deals in the pipeline may not materialise as there are aspects like competition as well to contend with.
The company's mark-to-market India exposure, including the indirect one to Airtel, has grown to $50 billion from $35 billion a year ago.
Having concluded a $1 billion stake buy in Haldiram, Shrivastav said the company is more keen to tie up with family-run businesses in India.
He, however, clarified that all the deals go through a detailed diligence, and corporate governance is an important aspect for Temasek.
On the Haldiram stake buy, he said the company has been optimistic on the food space in the country, where it holds six bets, including Rebel Foods.
The company will be keen to scout for opportunities in the artificial intelligence-aligned and industrials space going forward, he noted.
Digitisation, increasing lifespans, consumption and sustainable living are the prime focus areas for investments, he said.
India is the best-performing market for Temasek globally, and it sees some of its investee companies headed for an IPO over the next few quarters.
He said India needs to work towards growing the per capita incomes, and pointed towards high import dependence on crude, shallow domestic markets, as other concerns.
Shrivastav also hoped that the sluggish consumption growth for the last two years is a cyclical phenomenon and will recover soon.
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