Sitharaman urges BRICS private capital frameworks

At a BRICS seminar in Jaipur on the sidelines of the BRICS Finance Ministers' and Central Bank Governors' Meeting, India's Finance Minister Nirmala Sitharaman called on BRICS nations to build credible long-term frameworks to unlock sustained private capital flows. She emphasized that the challenge is not just capital availability but creating confidence, stability, and predictability. Sitharaman highlighted the role of multilateral development banks, particularly the New Development Bank, in de-risking investments and improving project bankability. Citing India's experience, she noted expanded public capital expenditure and reforms such as Viability Gap Funding, Hybrid Annuity Model, Infrastructure Investment Trusts, and PM Gati Shakti as catalysts for private investment. She also mentioned measures in the Union Budget 2026-27, including new freight and high-speed rail corridors and a Coastal Cargo Promotion Scheme. Economic Affairs Secretary Anuradha Thakur stressed that capital mobilization must be anchored in durable frameworks. The seminar included policymakers, multilateral institutions, and private-sector leaders.