Temasek aims to invest up to US$12bil in India as China weighs

File pic — Bloomberg

MUMBAI: Singapore state investor Temasek plans to invest up to $12 billion in India over three years in sectors such as financial services and healthcare, a top executive said on Monday, favouring the South Asian nation as it turns cautious on China.

India's economy is growing sharply and its stock markets are trading near record highs amid an IPO and dealmaking boom. India accounts for 7% of Temasek's global exposure which it wants to increase further, said Mohit Bhandari, the company's managing director for India investments.