Singapore’s investment firm, Temasek, has appointed Mr. Piyush Gupta, the former CEO of DBS Group, as Chairman of Temasek India, effective December 1, 2025. In this non-executive role, Mr. Gupta will collaborate closely with Mr. Ravi Lambah, Head of India and Head of Strategic Initiatives at Temasek, and the India team to refine investment strategies and bolster Temasek's portfolio companies as they pursue opportunities within India. He will also engage with the Indian government and business communities to promote Temasek's institutional objectives.
Mr. Gupta served as CEO of DBS Group from 2009 to 2025, during which he spearheaded the bank's digital transformation and regional expansion, establishing it as a leading global financial institution. Currently, he holds the position of Deputy Chairman at Keppel, and Chairman of the Board of Trustees at Singapore Management University, as well as Chairman of Mandai Park Holdings Board. Mr. Gupta also serves in senior advisory capacities both in Singapore and internationally.
Mr. Dilhan Pillay, Executive Director and CEO of Temasek Holdings, expressed confidence in Mr. Gupta's appointment, stating that he "brings extensive business insights and strong connections developed over decades in financial services". Mr. Pillay believes that Mr. Gupta's strategic counsel will complement Mr. Lambah's leadership in the India market, strengthen Temasek's institutional networks in India and beyond, enhance its franchise value, and expand portfolio access.
Mr. Gupta conveyed his enthusiasm for his new role, stating, "I am honoured with this opportunity to work with the Temasek India team". He added, "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 aims to expand its $50 billion India portfolio with larger and more selective investments, including support for family-owned businesses. Mr. Gupta's appointment is expected to enhance these investment strategies and partnerships. His responsibilities include advising Mr. Lambah, engaging with the Indian government and business communities, and supporting Temasek's portfolio companies.
In addition to his new role at Temasek India, Mr. Gupta holds several other prominent positions, including Deputy Chairman of Keppel and Chairman of Singapore Management University and Mandai Park Holdings. He also recently served as the 17th S R Nathan Fellow for the Study of Singapore at the Institute of Policy Studies.
