Temasek Chair Teo Chee Hean Hails India's Liberalisation as a Magnet for Investors
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Singapore's Temasek Holdings chairman Teo Chee Hean has praised India's calibrated approach to economic liberalisation, calling it a key factor in attracting long-term investors. Speaking at the Atal Bihari Vajpayee Memorial Lecture in New Delhi, Teo highlighted India's significant scale and momentum in key areas such as finance, technology, and sustainability. India's vision for a changing world, he said, prioritises strategic autonomy, resilient supply chains, and open connectivity. This has made India an attractive destination for investment, particularly among global investors who are looking for a partner that can offer scale, capability, and momentum. Teo noted that India's Unified Payments Interface (UPI) has enabled seamless transactions with Singapore's PayNow system, and that the two countries are working on a cross-border retail payments platform with other nations. He also commended India's policy of multi-alignment, which has allowed the country to engage with various partners on different issues. The meeting between Teo and Indian External Affairs Minister S Jaishankar ahead of the lecture focused on the investment opportunities unlocked by recent reforms in India. Union Finance Minister Nirmala Sitharaman also met with Teo to discuss potential investment opportunities across various sectors. Teo's comments reflect Singapore's interest in deepening its economic ties with India, which is set to become the world's third-largest economy by 2030. As India continues to liberalise its economy, it is likely to attract more foreign investment and become a key player in the global economy.
