Piyush Gupta, one of the best-known Indians in Singapore, has been appointed the India chairman — in an advisory capacity — of Singapore state investor Temasek Holdings, with effect from 1 December 2025.
In a LinkedIn post yesterday, he wrote that he looked “forward to facilitating continued participation in the exciting India story”.
Gupta, 65, ended his remarkable stint as DBS Bank Group CEO at the end of March 2025. His leadership role at the bank had begun in 2009.
A Reuters report on his new appointment at Temasek said: “Gupta is currently deputy chairman of Keppel (KPLM.SI), chairs the boards of trustees of Singapore Management University and Mandai Park Holdings, and holds several advisory positions in Singapore and internationally.”
Speaking of the economic ties between Singapore and India and what he foresees, Gupta posted on LinkedIn: “I have often pointed out that Singapore is the largest source of foreign investment into India, circa $150b. Temasek and its portfolio companies account for a significant share. Temasek’s commitment to India has been steadfast and broadbased over the years, in sectors like telecom, financial services, healthcare and infrastructure. Along with the India team, I look forward to facilitating continued participation in the exciting India story…”
Giving more details and quoting the Singapore state investor, Reuters said that in his non-executive role, Gupta would work with Ravi Lambah, Temasek’s head of India and strategic initiatives, “to shape investment strategies, support portfolio companies as they identify opportunities, and engage with government and business leaders in India”.
Reuters quoted Temasek CEO Dilhan Pillay as saying, “Piyush brings extensive business insights and strong connections developed over decades in financial services.”
Pillay added, “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.”
India is one of the key growth markets for Temasek, whose portfolio is worth SGD 434 billion (USD 334.75 billion).
Gupta’s work at DBS made him a banking legend. As he stepped down on 31 March 2025, The Economic Times reported: “Under his leadership, DBS achieved record financial performance, with 2024 net profits reaching $11.4 billion and shareholder returns hitting 51%. The bank’s market capitalisation also crossed $124 billion, a first for a Singapore-listed company.”
