Uttar Pradesh Chief Minister Yogi Adityanath Engages Singapore's Sovereign Wealth Giants for Major Investments
Uttar Pradesh Chief Minister Yogi Adityanath, during his official visit to Singapore, held a series of high-level meetings with the city-state's premier sovereign investment entities on Monday. The discussions centered on attracting substantial long-term institutional capital into Uttar Pradesh's burgeoning infrastructure and industrial sectors.
Strategic Dialogues with GIC and Temasek Holdings
Adityanath's itinerary featured a productive meeting with Lim Chow Kiat, the Chief Executive Officer of the Government of Singapore Investment Corporation (GIC). The Chief Minister, via social media platform X, detailed that the dialogue explored avenues for long-term institutional investments in Uttar Pradesh, with a specific focus on infrastructure, logistics, industrial parks, and sustainable urban development projects.
He acknowledged GIC's existing partnerships within the state, notably its association with IRB in the Ganga Expressway project and its collaboration with Greenko in the renewable energy sector. In a separate but equally significant engagement, Adityanath met with Teo Chee Hean, Chairman of Temasek Holdings (Private) Limited.
The discussions with Temasek reiterated opportunities for sovereign investment participation across data centres, logistics hubs, renewable energy, and industrial infrastructure. Adityanath highlighted Uttar Pradesh's investor-friendly policy framework and its system of fast-track clearances designed for global investors.
Substantial Existing and Potential Investments Unveiled
An official statement issued from Lucknow provided deeper insights into the potential scale of collaboration. Temasek, which manages a global portfolio of approximately USD 400 billion with nearly USD 50 billion invested in India, was formally invited to explore further opportunities in Uttar Pradesh.
The focus areas proposed included infrastructure, logistics, fintech-led city development, and allied sectors. During the interaction, it was revealed that Temasek's portfolio companies are already making significant inroads:
- Manipal Hospitals is investing approximately Rs 500 crore in Ghaziabad.
- Ascendas, another Temasek portfolio company, is investing around Rs 500 crore to develop logistics and warehousing facilities in the state.
Both parties agreed to explore future collaboration in emerging domains such as data centres and skill development, aligning with Uttar Pradesh's vision for future-ready infrastructure and employment generation.
Strengthening Financial Ties with DBS Group
Beyond sovereign funds, the Chief Minister also conducted a meeting with Tan Su Shan, CEO of DBS Group, and her senior leadership team. The discussions aimed at strengthening financial cooperation, facilitating project financing, and supporting investment flows into Uttar Pradesh's infrastructure and high-growth sectors.
DBS, which operates a wholly-owned subsidiary in India, is among the top Singaporean business groups active in one of the world's fastest-growing economies.
Broader Agenda of the Singapore-Japan Tour
This visit to Singapore, spanning February 23-24, is part of a broader four-day tour that includes Japan. The tour's objective is to position Uttar Pradesh as the "manufacturing hub of India" and attract foreign direct investment into key sectors. The itinerary is aligned with the India-Singapore Comprehensive Strategic Partnership (CSP) Roadmap, which emphasizes economic cooperation, digitalisation, and sustainability.
In Singapore, Adityanath's schedule includes high-level meetings with political leaders such as Prime Minister Lawrence Wong and Foreign Minister Vivian Balakrishnan. The programme also features engagements with business leaders across data infrastructure, logistics, aviation services, and advanced manufacturing.
A community event with the Indian diaspora at the One World International School is also on the agenda, featuring a cultural programme and dialogues with people of Indian origin, including many with ancestral roots in Uttar Pradesh.
Following his Singapore leg, the Chief Minister will proceed to Japan on February 25-26. There, he plans to engage with industry representatives on green hydrogen, supply chain development, and hospitality investments. Meetings are scheduled with major corporations like Google, Toshiba, and Suzuki Motors to discuss data centre infrastructure, renewable energy, agribusiness, and the automobile sector.
This marks Adityanath's first foreign tour since his visit to Myanmar in 2017. Throughout the tour, besides investor meetings, he will interact with members of the Indian diaspora and students, articulating the state's development journey and its ambitious vision of achieving a one trillion dollar economy.
