New Delhi: FM Sitharaman Calls On Multilateral Banks To Boost Private Investment In BRICS Economies

The finance minister was speaking at a seminar in Jaipur on the role of the new development bank in mobilising private capital in member countries, while it (seminar) was also addressed by New Development Bank President Dilma Rousseff.

Sitharaman said that India had strengthened its infrastructure ecosystem through sustained public capital expenditure and structural reforms, with public investment expanding significantly over the past decade. “The investments have helped create productive national assets across highways, railways, ports, logistics systems, digital infrastructure and energy networks,” she said.

The finance minister also highlighted measures announced in the Union Budget 2026-27, including new-dedicated freight corridors and high-speed rail corridors, operationalisation of new national waterways and a coastal cargo promotion scheme. “The government believes public capital should act as a catalyst rather than a substitute for private investment,” she said.

She further said that while BRICS economies are among the major growth engines of the global economy, they face common structural challenges in mobilising private capital at scale. “The challenge is not merely the availability of capital, but the creation of confidence, stability, predictability and credible long-term frameworks,” she said in a statement.

“Such frameworks were essential to unlock sustained private-sector participation across BRICS member countries. The future of development finance lies in partnership,” the finance minister said, adding that multilateral institutions, national governments, and the private sector bring distinct strengths to the development process.