FM stresses global outreach, investment drive, chairs 6th NIIF GC meet

Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman on Monday chaired the 6th meeting of the Governing Council (GC) of the National Investment and Infrastructure Fund Limited (NIIF) in New Delhi, reviewing the fund’s evolving role as a sovereign-linked asset manager and its contribution to India’s infrastructure growth. During the meeting, the GC acknowledged NIIF’s significant strides in mobilising capital into key sectors aligned with national priorities. Applauding its growing stature, the GC recognised the fund’s successful partnerships with marquee global investors such as the Abu Dhabi Investment Authority (ADIA), Temasek, Australian Super, Ontario Teachers’ Pension Plan, Canada Pension Plan Investment Board (CPPIB), and multilateral development banks like the AIIB, ADB, and NDB.
The Finance Minister and the GC  noted that NIIF’s Assets Under Management (AUM) have now exceeded Rs 30,000 crore, with a catalytic effect amounting to Rs 1,17,000 crore in investments. The meeting included a comprehensive review of the strategies and performance across NIIF’s four active funds:
•Master Fund, focusing on infrastructure development,
•Private Markets Fund (Fund of Funds),
•India Japan Fund , emphasizing climate and sustainability investments, and
•Strategic Opportunities Fund, dedicated to growth equity.
The Council acknowledged the successful deployment of capital from both the Master Fund and the Private Markets Fund, noting that they are now fully committed with investments channelled into the development of greenfield assets across vital sectors like ports, logistics, airports, and data centres.
Progress on the upcoming Private Markets Fund II (PMF II), targeting a $1 billion corpus, was also discussed. The GC lauded the onboarding of private investors and noted that the fund is nearing its first closing. Updates were also shared on a proposed bilateral fund under discussion with the United States.
The GC offered guidance on strategy formulation, timely fund deployment, and effective capital mobilisation. It also encouraged NIIF to adopt a proactive stance in fundraising and diversify its investor base while leveraging its sovereign-backed credibility. A call was made for NIIF to more prominently showcase its performance on the global stage and strengthen its international investor relations.
Finance Minister Sitharaman reaffirmed the government's commitment to NIIF’s mission and proposed that the Governing Council meet be held annually to ensure consistent strategic oversight.
Senior officials who were present in the meeting included Ajay Seth, Finance Secretary and Secretary, Department of Economic Affairs (DEA); M. Nagaraju, Secretary, Department of Financial Services (DFS); Ms. Anuradha Thakur, Officer on Special Duty (DEA); C.S. Setty, Chairman, State Bank of India; and Uday Kotak, Founder and Director, Kotak Mahindra Bank.

(Business Correspondent)