India's open economic approach attracts global investors: Teo Chee Hean

Singapore's Teo Chee Hean lauded India's open economic liberalisation, stating it has caught the attention of global investors. He met EAM Jaishankar and FM Sitharaman to discuss expanding Temasek's investment footprint in India.

Teo Chee Hean, Chairman of Temasek and Senior Advisor to Singapore Prime Minister, on Tuesday said that India is adopting a more open and calibrated approach to economic liberalisation -- a shift that has drawn the attention of long-term global investors. Addressing the 5th Atal Bihari Vajpayee memorial lecture in national capital, Hean said, "India today is taking a more open approach to calibrated economic liberalisation. These changes in India have not gone unnoticed and have caught the attention of long-term global investors."

"Since the 19th century, the Indian diaspora has constituted a significant share of Singapore's migrant community, shaping our economy, culture, and the diverse social fabric that we treasure today. Globalisation is now being challenged, creating a more fluid and less predictable landscape, and we are witnessing the end of an era," he stated.

Teo Chee Hean Meets Jaishankar, Sitharaman

Earlier today, Teo Chee Hean met External Affairs Minister (EAM) S Jaishankar. "Pleased to meet Chairman of Temasek Holdings Teo Chee Hean and his team today in New Delhi. Discussed the investment opportunities unlocked in India by recent reforms," Jaishankar said in a post on X.

The External Affairs Minister later thanked Teo Chee Hean for delivering the 5th Atal Bihari Vajpayee memorial lecture. "Value his perspectives on the global changes underway, the importance of strategic autonomy and flexible multilateralism. Share his confidence on the future direction of India-Singapore relations, which can foster growth, stability and resilience in the region," he said.

Teo Chee Hean also met Union Finance Minister Nirmala Sitharaman. According to post on X by Finance Ministry, Hean appreciated the various reform initiatives undertaken by the Government of India in the last decade.

Temasek to Expand India Footprint

"During the course of the meeting, the two leaders discussed potential investment opportunities across various sectors and across the length and breadth of the country," the Finance Ministry said. Teo Chee Hean informed the Union Finance Minister that while Temasek's cumulative exposure to India stands at USD 50 billion, they look forward to expanding their India footprint over the next few years, as a win-win opportunity for both, with focus on Financial Services, consumer markets, healthcare innovation, technology, manufacturing, and Renewable Energy among others. (ANI)

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