Nirmala Sitharaman holds talks with global financial leaders in Singapore, pitches for boosting investment in India

New Delhi, Finance Minister Nirmala Sitharaman on Sunday held a series of meetings with senior executives of global financial institutions and investment firms in Singapore and invited them to boost investments infrastructure, capital markets, renewable energy, artificial intelligence and other key sectors of India.

During her meeting with Yukinobu Saeki, Chief Executive, Asia Pacific, MUFG, discussions focused on expanding the Japanese financial group's presence in India, particularly in capital markets, infrastructure and project finance, renewable energy and mergers and acquisitions (M&A) financing, the finance ministry said in a post on X.

Sitharaman encouraged greater engagement with the National Bank for Financing Infrastructure and Development (NaBFID) to support infrastructure financing in the country.


The discussions also covered financing support for Indian small and medium enterprises (SMEs) and the importance of regulatory roadshows to engage with investors and strengthen market transparency and governance, it said.

In a separate meeting with Rajeev Kannan, Managing Executive Officer and Co-Head, Asia Pacific, Sumitomo Mitsui Banking Corporation (SMBC), the Finance Minister discussed opportunities to expand the bank's engagement in India, including affordable housing finance, financing for non-banking financial companies (NBFCs), trade finance and other priority sectors.

She encouraged SMBC to explore investment and financing opportunities through the National Investment and Infrastructure Fund (NIIF) and GIFT International Financial Services Centre (GIFT IFSC), particularly in aircraft leasing, another post said.

During meeting with Marcus Wallenberg, Chairperson of Skandinaviska Enskilda Banken AB (SEB), Sitharaman discussed India's economic outlook and ways to strengthen investment flows and engagement with European institutional investors.

Discussions also covered private equity investments in NBFCs, sustainable finance, the green transition and skill development, another post said.

The Finance Minister invited SEB to explore investment opportunities through GIFT IFSC and NIIF.

Sitharaman also met Scott Kapnick, CEO of HPS Investment Partners, to discuss India's investment landscape and opportunities in private credit, structured finance and long-term financing for businesses.

HPS highlighted the potential of debt capital to complement equity investments. Sitharaman encouraged the firm to explore setting up a fund in GIFT IFSC and collaborating with NIIF to mobilise financing for large infrastructure projects in India.

In another meeting, with Raj Ganguly, Co-founder and CEO of B Capital Group, discussions focused on sovereign artificial intelligence (AI) and the broader AI ecosystem.

Sitharaman highlighted India's potential to emerge as a leader in AI services and encouraged B Capital to explore the application of AI in India's banking and financial services sector, a separate post said.

The B Capital team emphasised the importance of currency stability and predictable, transparent tax policies for investors.

The meetings underscore India's efforts to attract global capital and deepen engagement with international financial institutions and investment firms across infrastructure, financial services, emerging technologies and sustainable development.