Archive · 13 Aug 2026
Sitharaman: BRICS major growth engines, confidence key to private capital
On Wednesday, a very important money expert from India named Nirmala Sitharaman gave a speech in Jaipur.
She was talking to leaders from a group of countries called BRICS.
She said these countries help the whole world's economy grow, but they have a hard time getting private companies to invest big amounts of money.
She explained that businesses need trust, clear rules, and stable plans before they will invest.
She talked about a bank called the New Development Bank, which helps make big projects safer for investors.
She said public money should help private money, not replace it.
She told everyone how India has built highways, railways, ports, and digital networks using public money.
Indian rules like the hybrid annuity model help share risks between the government and private companies.
India's new budget plans new train corridors, waterways, and a coastal cargo scheme to invite more private investment.
Finance Minister Nirmala Sitharaman delivered a keynote at a seminar on the New Development Bank's role in mobilising private capital, held on the sidelines of the BRICS Finance Ministers' and Central Bank Governors Meeting in Jaipur.
She said BRICS economies are major engines of global growth but face common structural constraints in mobilising private capital at scale.
Sitharaman asserted the challenge is not merely capital availability but building confidence, stability, predictability, and credible long-term frameworks.
She said public capital must act as a catalyst, not a substitute, for private investment, citing India's viability gap funding, hybrid annuity model, credit enhancement mechanisms, and Infrastructure Investment Trusts (InvITs).
The Union Budget 2026-27 introduced measures including dedicated rail freight corridors, high-speed rail corridors, new National Waterways, and a coastal cargo promotion scheme to facilitate private investment.
- Who
- Nirmala Sitharaman, Finance Minister of India, who gave the keynote address; Anuradha Thakur, Secretary, Department of Economic Affairs, who gave a welcome address; attended by senior policymakers, multilateral institutions and private-sector leaders from BRICS countries.
- What
- A seminar on 'The Role of the New Development Bank in Mobilising Private Capital in Member Countries', where Sitharaman called BRICS economies major growth engines facing common structural constraints in mobilising private capital at scale.
- When
- Wednesday, on the sidelines of the BRICS Finance Ministers' and Central Bank Governors Meeting.
- Where
- Jaipur, India, under India's BRICS chairship.
- Why
- To discuss how multilateral development banks and credible long-term frameworks can unlock sustained private investment across BRICS member countries.
- Speaker
- Nirmala Sitharaman, Finance Minister of India
- Event
- Seminar on 'The Role of the New Development Bank in Mobilising Private Capital in Member Countries'
- Context
- Sidelines of BRICS Finance Ministers' and Central Bank Governors Meeting under India's chairship
- Venue
- Jaipur, India
- Welcome address
- Anuradha Thakur, Secretary, Department of Economic Affairs
- Reforms cited
- Viability gap funding (VGF), hybrid annuity model (HAM), credit enhancement mechanisms, Infrastructure Investment Trusts (InvITs)
- Budget 2026-27 measures
- Dedicated rail freight corridors, high-speed rail corridors, new National Waterways, coastal cargo promotion scheme
