Temasek Holdings, Singapore’s sovereign wealth fund, has appointed Piyush Gupta, the former CEO of DBS Bank, as its non-executive Chairman for India, effective December 1, 2025. This strategic move aims to deepen Temasek’s presence in India and strengthen its ties with Indian stakeholders in government and industry. Gupta will work alongside Ravi Lambah, Temasek’s Head of India and Strategic Initiatives, to shape long-term investment strategies in India, offer strategic support to Temasek’s portfolio companies, and enhance government and business engagement in India.
Gupta, 65, is a proven leader with deep regional experience, having led DBS Group from 2009 to 2025. During his tenure, he oversaw a comprehensive digital transformation of DBS Bank, expanded the bank’s presence across Asia-Pacific, and earned global recognition for DBS as one of the world’s leading digital banks. His leadership acumen, understanding of the Indian market, and credibility in financial and governmental circles are expected to bring strategic depth to Temasek’s India operations.
Temasek sees India as a critical growth market and has significantly increased its investment in Indian enterprises, focusing on financial services, technology and digital infrastructure, healthcare and pharmaceuticals, consumer goods, and clean energy and logistics. India’s strong post-pandemic economic rebound and structural reforms have attracted growing interest from global funds like Temasek, which aims to position itself as a long-term partner in India’s development. Gupta’s appointment signals Temasek’s commitment to high-level strategic advisory and region-specific expertise, and his role will be crucial in shaping the firm’s India-focused investment strategy.
With Gupta’s expertise and Temasek’s growing portfolio in India, the firm is well-positioned to capitalize on the country’s growth opportunities. Temasek’s investment strategy in India is focused on long-term growth, and the firm aims to work closely with Indian stakeholders to support the country’s development. Gupta’s appointment is a significant milestone in Temasek’s India strategy, and his leadership is expected to play a key role in shaping the firm’s future growth in the region. Overall, Temasek’s move to appoint Gupta as its non-executive Chairman for India reflects its commitment to deepening its presence in the country and supporting India’s long-term growth and development.