Singapore Emerges as India’s Largest Foreign Portfolio Investor
The Singapore government has solidified its position as India’s largest foreign portfolio investor (FPI), with its sovereign fund’s holdings in the Indian market now standing at approximately Rs 2.69 lakh crore.
This valuation surpasses the combined holdings of Norway’s Norges Bank and the US-based Capital Group, according to data from Prime Database for the quarter ending September.
Singapore’s Growing Portfolio in India
The Singapore government’s holdings in Indian equities have witnessed remarkable growth in recent years. In September 2022, its portfolio was valued at Rs 1.29 lakh crore, a figure that has more than doubled to reach Rs 2.69 lakh crore this September. This significant increase underscores the island nation’s expanding investment influence in the Indian stock market. Singapore first emerged as the leading FPI in September 2022, closely followed by the Capital Group, which held assets worth Rs 1.26 lakh crore at the time.
GIC’s Prominent Role in Indian Investments
The government of Singapore, investing mainly through its prominent fund, GIC, continues to strengthen its presence in India. The data, based on shareholding patterns disclosed by listed companies, considers only those companies where GIC holds more than a 1% stake. The fund’s actual portfolio value could be higher, as it may include smaller stakes in other companies that are not publicly disclosed.
While Norges Bank follows Singapore with Rs 1.42 lakh crore in Indian assets, and the Capital Group stands third with Rs 1.33 lakh crore, Singapore’s leading role reflects a growing alignment of its sovereign investment strategy with India’s robust market potential.
