**Piyush Gupta Joins Temasek as India Chairman in Non-Executive Role**
Piyush Gupta, the former CEO of DBS Group, has been appointed as the India chairman of Temasek, a Singaporean state-owned multinational investment firm, effective December 1. In this non-executive position, Gupta will collaborate closely with Ravi Lambah, who leads India and strategic initiatives at Temasek. His responsibilities will include working with the India team on investment strategies and supporting Temasek’s portfolio companies in identifying opportunities within the Indian market. Additionally, Gupta will engage with the Indian government and business communities to foster relationships and drive growth.
Dilhan Pillay, executive director and CEO of Temasek Holdings, praised Gupta’s extensive business insights and strong connections cultivated over decades in the financial services sector. He emphasized that Gupta’s strategic counsel will complement Lambah’s leadership and enhance Temasek’s institutional networks in India and beyond, ultimately strengthening the firm’s franchise value and expanding portfolio access.
Gupta served as the chief executive of DBS Group from 2009 to 2025, during which he spearheaded the bank’s notable digital transformation and regional expansion. Prior to his tenure at DBS, he spent 27 years at Citigroup, where he held the position of CEO for Southeast Asia, Australia, and New Zealand.
In addition to his new role at Temasek, Gupta is the deputy chairman of global asset manager Keppel, chairman of the board of trustees at Singapore Management University, and chairman of Mandai Park Holdings. He also holds various senior advisory roles both in Singapore and internationally.
Expressing his enthusiasm for the new position, Gupta stated, “I am honored with this opportunity to work with the Temasek India team. Having been engaged with the Temasek ecosystem for many years, I look forward to collaborating with the team to deepen partnerships, pursue new opportunities, and contribute to Temasek’s continued growth in India.”
Temasek, headquartered in Singapore, boasts a net portfolio value of nearly $324 billion as of March 31. In 2024, the firm made significant investments, including over $1 billion for a 10% stake in Haldiram Food International Pvt. Ltd. and around $2 billion for a majority control of Manipal Health Enterprises. Temasek’s India portfolio has seen substantial growth, increasing from $37 billion in July 2024 to $50 billion by July 2025.
**FAQ**
**What role will Piyush Gupta play at Temasek?**
Piyush Gupta will serve as the India chairman in a non-executive capacity, focusing on investment strategies, supporting portfolio companies, and engaging with the Indian government and business communities.