Singapore's government-owned investment company, Temasek Holdings, has selected Piyush Gupta, the former Chief Executive Officer of DBS Group, to serve as its advisory chairman in India, starting from December 1, 2025.
Piyush will collaborate with Ravi Lambah, the head of India and strategic initiatives at Temasek. In his capacity as a non-executive member to develop investment strategies, assist portfolio companies in recognizing opportunities, and interact with Indian government officials and business executives, according to an announcement from Temasek.
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Piyush served as the leader of DBS from 2009 until recently, guiding the Singaporean financial institution through a highly regarded process of digital modernization and expansion across the region, ultimately positioning it as one of the premier global banks.
Piyush currently serves as the deputy chairman of Keppel Corporation, chairing the boards of trustees at both Singapore Management University and Mandai Park Holdings. In addition to these roles, he also holds various advisory positions in both domestic and international capacities.
“Piyush brings extensive business insights and strong connections developed over decades in financial services,” Temasek CEO Dilhan Pillay says.
“Complementing Ravi’s leadership of our India market, he will provide strategic counsel and help strengthen our institutional networks in India and beyond, enhance our franchise value, and expand our portfolio access,” Pillay says.
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Temasek manages a portfolio worth S$434 billion ($334.75 billion) and has been deepening its presence in India, a key growth market.
Piyush said he looked forward to collaborating with the team “to deepen partnerships, pursue new opportunities, and contribute to Temasek’s continued growth in India.”
Moreover, the government-owned corporation acquired approximately 1.4 million shares of WeRide and 14,500 shares of Pony.ai in the third quarter of September. The combined worth of these shares amounted to about US$13.7 million.
Temasek has a track record of investing in companies involved in autonomous driving. This portfolio includes Einride, a Swedish transportation company specializing in electric and self-driving trucks, as well as Autobrains, an Israeli startup focusing on artificial intelligence mobility solutions.
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Temasek's most recent transactions demonstrate the investment giant's emphasis on innovative technologies, while also prioritizing increased profitability for shareholders. By the close of September, Temasek held a combined value of US$29 billion in investments in US securities, approximately US$2 billion of which was in 16 Chinese stocks listed on US exchanges.