NIIF: National Investment and Infrastructure Fund Explained
Why in the news
The Finance Minister presided over NIIF’s 6th Governing Council meeting, which reviewed performance, partnerships and future plans.
About NIIF
| Aspect | Detail |
|---|---|
| Nature | Government-backed platform raising long-term capital for infrastructure and strategic sectors |
| Headquarters | Mumbai |
| Nodal ministry | Finance Ministry (Department of Economic Affairs) |
| Ownership | Government 49%; private investors 51% |
| Registration | SEBI Category II AIF, December 2015 |
| CEO and MD | Sanjiv Aggarwal (appointed February 2024) |
- Private investors include: ADIA (Abu Dhabi), Temasek (Singapore) and CPPIB (Canada).
- Partners: multilateral lenders ADB, AIIB and NDB, besides wealth and pension funds.
- Governing Council: chaired by the Finance Minister; advises on strategy, governance, capital mobilisation and deployment.
Functions
- Mobilising domestic and global capital.
- Investing equity and debt in commercially viable transport, energy, digital and urban projects.
- Building platforms with global institutions, such as the Green Growth Equity Fund with the UK government.
- Backing Make in India, green energy transition and Gati Shakti.
Significance
- Helps bridge an infrastructure funding gap of about $1.5 trillion needed by 2030.
- Draws foreign money while keeping strategic control.
Exam angle
- Headquarters: Mumbai. Chair of Governing Council: Finance Minister.