CapitaLand Investment to Double Its Funds in India Amid Strong Growth Prospects

CapitaLand Investment's Group CEO, Lee Chee Koon, expresses optimism about India's growth, plans to double investments. PM Modi's leadership and reforms praised by Singaporean business leaders during meetings, with commitments to increased investments in India's digital and renewable sectors.

CapitaLand Investment's Group CEO, Lee Chee Koon, has expressed strong confidence in India's growth prospects. He cited the country's stable government and steady reforms as key factors. The company aims to more than double its funds in India within the next few years. PM Narendra Modi met with business leaders and CEOs from Singapore on Thursday.

Discussing CapitaLand's experience in India, Lee emphasized that growth has significantly accelerated since PM Modi took office. 'CapitaLand has been in India for more than 30 years. Initially, our growth was gradual, but PM Modi's reforms have expedited it,' Lee told ANI.

'Over the past seven years, our growth in India has tripled due to promising prospects, a stable government, and a pro-business attitude. We are committed to doubling our funds under management in India soon,' he added. Other top Singaporean business leaders echoed this sentiment and revealed plans for greater investments in India.

Bruno Lopez, CEO of ST Telemedia Global Data, expressed excitement about India's digitalization efforts and announced a planned investment of over Rs 26,000 crores in five years. 'India's digital commitment is exemplary. We aim to enhance the digital economy by investing over Rs 26,000 crores,' said Lopez.

Kim Yin Wong, CEO of Sembcorp Industries Ltd., highlighted the transformation of India's power sector under Modi's leadership. 'Significant policies have bolstered the viability of the solar electricity sector. We see tremendous opportunities in collaborating with Indian companies,' Wong noted.

Sean Chiao, Group CEO of Surbana Jurong, praised India's rise under PM Modi to become the world's fifth-largest economy. 'India's progress is remarkable. I encourage further policy enhancements to foster collaboration with Singaporean firms,' he suggested.

Kok Ping Soon, CEO of Singapore Business Federation, lauded PM Modi's pro-business approach and highlighted Singapore's potential contribution to India's skill development. 'PM Modi's willingness to listen to business leaders' concerns is commendable. Singapore can support India's skill development initiatives,' he said.

Gautam Banerjee, Senior Managing Director and Chairman of Blackstone Singapore, acknowledged India's vast opportunities, credited to PM Modi's vigorous reforms. 'Our achievements in the last decade are notable, thanks to PM Modi's focus on diverse aspects. We're excited about future prospects,' Banerjee said.

PM Modi's meeting with Singaporean business leaders emphasized ongoing reforms in India aimed at fostering investment and innovation, thereby enhancing bilateral economic relations.

(With inputs from agencies.)