Piyush Gupta appointed chairman of Temasek India

SINGAPORE: Temasek has appointed former DBS chief executive Piyush Gupta as chairman of Temasek India, effective 1 December 2025.

According to a press release issued on 28 November 2025, the role will involve guiding investment strategy and strengthening institutional engagement.

Temasek stated that Gupta will collaborate closely with Ravi Lambah, who leads the Temasek India team and oversees strategic initiatives.

The firm added that Gupta will support portfolio companies as they pursue new opportunities in India’s expanding market.

Temasek noted that he will also take on an institutional role by engaging government stakeholders and business leaders in India.

The appointment follows Temasek’s announcement in January that it aims to increase the scale of its India presence.

At that time, Temasek said it would invest US$10 billion over the next three years to grow its India portfolio, which stood at about US$40 billion.

The firm described India as a key growth geography and signalled a strengthened commitment to the region.

Temasek said Gupta’s tenure at DBS demonstrated leadership in digital transformation and regional expansion.

The bank was consistently ranked among the world’s leading financial institutions during his time as chief executive.

Temasek chief executive and executive director Dilhan Pillay said Gupta brings deep insight and strong connections developed over decades in financial services.

Pillay said these strengths will complement Lambah’s leadership and reinforce Temasek’s ability to broaden its institutional networks.

He added that Gupta’s counsel will help enhance franchise value and expand portfolio access both in India and beyond.

Gupta said he was honoured to join the Temasek India team and looks forward to advancing growth and partnership efforts.

He said he has long been engaged with Temasek’s ecosystem and is keen to work with colleagues to identify new opportunities.

Gupta currently serves as deputy chairman of Keppel and chairs the board of trustees of Singapore Management University.

He also chairs the Mandai Park Holdings board and sits on the Ministry of Trade and Industry’s Future Economy Advisory Panel.

Before joining DBS in 2009, he served as Citibank’s chief executive for South East Asia-Pacific.

The announcement follows an earlier development in August when Temasek revealed a major reorganisation of its operations.

According to Temasek, the restructuring is one of the most significant shifts in its 51-year history.

The firm said it will be divided into three entities: Temasek Global Investments, Temasek Singapore and Temasek Partnership Solutions.

Pillay said the changes are designed to prepare a new generation of leaders and better position the organisation for the future.