BRICS economies represent major growth engines of the global economy, and face common structural constraints in mobilising private capital at scale: FM Smt. Sitharaman

Nirmala Sitharaman delivered the Keynote Address at the Seminar on “The Role of the New Development Bank in Mobilising Private Capital in Member Countries”, on the sidelines of the BRICS Finance Minsters’ and Central Bank Governors (FMCBG) Meeting, being held in Jaipur, yesterday.

H.E. Ms. Dilma Rousseff delivered a special address, with participation of Ms. Anuradha Thakur, Secretary, D/o Economic Affairs (DEA), Ministry of Finance; and Mr. Vijay Sankar, Senior Vice President, FICCI.

In her Keynote Address, the Union Finance Minister set the context by highlighting the critical role the Multilateral Development Banks play in de-risking investments, enhancing project bankability, and strengthening investor confidence so that private capital can be mobilised at scale.

Speaking of India’s experience, Smt. Sitharaman said that Government of India has strengthened its infrastructure ecosystem through sustained public capital expenditure and complementary structural reforms. Public investment has expanded significantly compared to a decade ago, reflecting a deliberate strategy to create productive national assets across highways, railways, ports, logistics systems, digital infrastructure, and energy networks, She said.