India, Singapore benefit as global investors move away from China

The rotation away from China by global investors in private equity and venture capital funds has benefited other Asian economies. For sovereign wealth fund GIC’s head of Asia, private equity, Kevin Looi, the rotation away from China has helped highlight the region’s other giants like India. He said India has been a bit overshadowed by China historically, but the mood is very buoyant due to a supportive government and good investment policy, while India is also benefiting from the realignment of supply chains. Singapore is also benefiting from the changes. Ravi Menon, managing director at the Monetary Authority of Singapore, said the number of private equity firms in Singapore rose to 428 as of June from 336 at the start of 2021. Menon said that in 2021, growth in PE and VC investments in India outpaced most major economies, including China.