Temasek plans to invest about $9-10 billion in India over the next three years, building on a roughly $42 billion local portfolio as of March 2026. The Singapore state-owned investor is shifting toward manufacturing, industrials, and artificial intelligence while maintaining exposure to consumer, healthcare, and financial services. It aims to grow its AI holdings from about 6% of its global portfolio to roughly 15% by 2031 and is targeting AI infrastructure and practical business applications. Temasek has deepened ties with Indian family-owned businesses, viewing governance improvements and IPO readiness as win-win opportunities, including a 10% stake in Haldiram’s for about $1 billion. The fund emphasizes long-term, multi-year commitments and direct investments rather than rapid exits, with investments spanning Manipal Hospitals, CleanMax, and other healthcare, renewables, and financial services assets. This diversified approach aligns with India’s growth trajectory in both traditional sectors and newer economies like AI and energy transition.