Temasek, the investment arm of the Singapore government, on Thursday said it was “very optimistic” on India’s long-term potential, dispelling fears expressed by rating agencies which downgraded the country’s outlook recently.
The Singapore sovereign fund, which reported 16 per cent fall in its annual net profit for the year ended March 31, said it would continue to bet on Indian companies, which are proxies for the country’s economic growth. India accounts for 5 per cent of Temasek’s 42 per cent exposure in Asia.
The sovereign fund has $109 billion worth investments in Asia, making India investments at nearly $6 billion. Full story
Related:
Fitch downgrades India's outlook to 'negative' - BBC News
Debt crisis: S&P warns India facing downgrade - The Telegraph
Indian growth weakest in 9 years, rupee slides - msnbc.com
