India has been a standout performer in Khazanah’s portfolio, delivering double the returns and reinforcing its overweight position alongside China.
KUALA LUMPUR: India has emerged as the standout performer in Khazanah Nasional Bhd’s portfolio over the past decade. The sovereign wealth fund’s investments there have delivered roughly double the productivity returns, underpinning its decision to remain overweight in the country.
Chief investment officer Datuk Hisham Hamdan confirmed India and China remain very important markets alongside ASEAN. “I think India has been a country where we have really outperformed,” he said during the Khazanah Annual Review 2026 media briefing.
He added that the fund is always overweight in India and China as it does not want to “miss the right tail of China’s future”. Hisham noted China has made significant strides in new technology sectors and performed well over the past two years.
He also pointed to a strong pipeline of Hong Kong initial public offerings expected to continue this year. “And one area that we want to pay more attention to this year is China,” he added.
The focus on India follows a recent meeting between Khazanah managing director Datuk Amirul Feisal Wan Zahir and Indian Prime Minister Narendra Modi. Amirul Feisal highlighted India’s economic transformation and potential as a high-growth investment destination.
According to India’s Ministry of External Affairs, the meetings reflected strong investor confidence and a shared commitment to scaling up economic and technology partnerships. Commenting on the fund’s strategy, Amirul Feisal said Khazanah focuses on diversifying risk while capturing long-term growth.
“We have been invested there since 2008, and over the years, it has grown significantly,” he said. He added that India remains an integral part of Khazanah’s global investment strategy.
Modi’s two-day official visit to Malaysia reciprocated Prime Minister Datuk Seri Anwar Ibrahim’s visit to India in August 2024.
