Temasek Appoints Former DBS CEO Piyush Gupta as India Chairman

In a strategic move to deepen its presence in India, Temasek Holdings, Singapore’s sovereign wealth fund, has appointed Piyush Gupta, former CEO of DBS Bank, as its non-executive Chairman for India. The appointment, effective December 1, 2025, marks a significant leadership addition as Temasek sharpens its India-focused investment strategy and strengthens ties with Indian stakeholders in government and industry.

Role and Responsibilities of the New Chairman

In his new role, Piyush Gupta will work alongside Ravi Lambah, Temasek’s Head of India and Strategic Initiatives, to,

• Shape long-term investment strategies in India
• Offer strategic support to Temasek’s portfolio companies
• Enhance government and business engagement in India

Although a non-executive position, Gupta’s appointment signals Temasek’s commitment to high-level strategic advisory and region-specific expertise.

A Proven Leader with Deep Regional Experience

Piyush Gupta, aged 65, is widely recognised for his transformative leadership as the CEO of DBS Group from 2009 to 2025. During his 16-year tenure, he led,

• A comprehensive digital transformation of DBS Bank
• Regional expansion across Asia-Pacific
• Global recognition of DBS as one of the world’s leading digital banks

His leadership acumen, understanding of the Indian market, and credibility in both financial and governmental circles are expected to bring strategic depth to Temasek’s India operations.

Temasek’s India Strategy and Growing Portfolio

Temasek, which manages assets globally across sectors, sees India as a critical growth market. The firm has significantly ramped up its investment in Indian enterprises, focusing on,

• Financial services
• Technology and digital infrastructure
• Healthcare and pharmaceuticals
• Consumer goods
• Clean energy and logistics

India’s strong post-pandemic economic rebound and structural reforms have attracted growing interest from global funds like Temasek, which aims to position itself as a long-term partner in India’s development.