Overview
On 12 August 2026, Union Finance Minister Nirmala Sitharaman delivered the keynote address at a seminar in Jaipur on the theme “The Role of the New Development Bank in Mobilising Private Capital in Member Countries”. The event was held alongside the BRICS Finance Ministers’ and Central Bank Governors’ meeting.
Key Developments
- The minister highlighted the importance of Multilateral Development Banks in de‑risking projects and building investor confidence.
- She cited India’s infrastructure push through public spending and reforms such as Viability Gap Funding (VGF), Hybrid Annuity Model (HAM), and credit‑enhancement mechanisms.
- New financing structures like Infrastructure Investment Trusts (InvITs) and the National Infrastructure Pipeline (NIP) were highlighted as catalysts for private participation.
- The Union Budget 2026‑27 announced sector‑specific measures: Dedicated Freight Corridors, High‑Speed Rail Corridors, operationalisation of new National Waterways, and a Coastal Cargo Promotion Scheme.
Important Facts
India’s strategy treats public capital as a catalyst, not a substitute, for private investment. The minister stressed that confidence‑building measures, stable policy frameworks, and long‑term visibility are essential for attracting private funds across BRICS nations.
She also referred to the