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BRICS Pushes New Strategy to Mobilise Private Capital
Nirmala Sitharaman stresses trust, stability and long-term frameworks for development finance
Pooja Srivastava, Any Time News Network #
Speaking at a seminar during the BRICS Finance Ministers and Central Bank Governors meeting in Jaipur, Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman highlighted the critical role of Multilateral Development Banks (MDBs) in de-risking infrastructure projects and catalyzing private investments across member nations.
Public Capital as a Catalyst for Private Investment
Addressing the gathering, the Finance Minister stated that while BRICS economies drive global growth, they face similar structural hurdles in mobilizing private capital. She emphasized that India views public capital expenditure not as a substitute, but as a catalyst for private investment. Strategic frameworks like Viability Gap Funding (VGF), Hybrid Annuity Model (HAM), InvITs, and PM Gati Shakti have strengthened India’s infrastructure ecosystem over the past decade.
Budget 2026-27 Targeted Measures to Boost Infrastructure
Smt. Sitharaman outlined key initiatives under the Union Budget 2026-27 aimed at driving private sector participation, including new Dedicated Freight Corridors, High-Speed Rail Corridors, inland waterways expansion, and the Coastal Cargo Promotion Scheme. She asserted that the future of development finance rests on resilient partnerships between governments, MDBs, and private enterprise.
Institutional Stability and Multilateral Cooperation
The event featured a special address by NDB President H.E. Ms. Dilma Rousseff and welcoming remarks by Secretary (DEA) Ms. Anuradha Thakur, who stressed building sustainable financial models. The seminar concluded with an expert panel discussion featuring IRDAI Chairman Ajay Seth, NDB Vice-President Roman Serov, and industry leaders from across BRICS nations.
