Amid PM Modi’s visit to Singapore, a Rs 90,000-crore boost for India
SINGAPORE : Singapore’s CapitaLand Investment has announced plans to more than double its funds under management in India by 2028, a move that comes alongside Prime Minister Shri Narendra Modi’s visit to the country.
CapitaLand plans to more than double its funds under management in India to more than S$14.8 billion (Rs 90,280 crore) by 2028. CapitaLand’s FUM, currently at S$7.4 billion ($5.66 billion), is expected to exceed S$200 billion globally by that time, signaling a deeper commitment to the Indian market.
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CapitaLand Group CEO Lee Chee Koon noted that global corporations and institutional investors are increasingly drawn to India’s quality real assets. To further capitalize on this demand, the company is exploring new opportunities in renewable energy and real estate private credit within the country.
In addition to this, CapitaLand recently launched a fund for business park development in India, projected to add another S$700 million to its FUM, further strengthening its footprint in the region.
PM Modi’s visit to Singapore underscores the growing economic ties between the two nations. During his two-day visit, Modi will meet Singaporean Prime Minister Lawrence Wong, President Tharman Shanmugaratnam, and other key leaders.
Singapore remains one of India’s largest trading partners, accounting for 3.2% of the country’s overall trade. In the 2024 fiscal year, imports from Singapore reached $21.2 billion, while exports totaled $14.4 billion.
The city-state is also India’s top source of foreign direct investment, with cumulative inflows exceeding $160 billion since 2000, representing nearly a quarter of all FDI into India