Union Finance Minister Nirmala Sitharaman has said that public capital should act as a catalyst for private investment, rather than a substitute for it. Addressing a seminar in Jaipur on the role of the New Development Bank in mobilising private capital in BRICS member countries, Mrs. Sitharaman said BRICS economies are among the major engines of global growth, but they also face challenges in attracting private capital.
She said that besides ensuring the availability of capital, it is equally important to build investor confidence, maintain stability and provide a predictable, long-term policy framework.
The Finance Minister highlighted the role of multilateral development banks in reducing investment risks, making projects more financially viable and strengthening investor confidence, thereby helping mobilise private capital on a larger scale.
Referring to India’s experience, Mrs. Sitharaman said the Central Government has strengthened the country’s infrastructure through sustained public capital expenditure and structural reforms.
New Development Bank President Dilma Rousseff also addressed the seminar.
Earlier, Economic Affairs Secretary Anuradha Thakur said that increasing private capital participation is an important need in the current economic environment.
The seminar is being held as part of the BRICS Finance Ministers and Central Bank Governors’ meeting in Jaipur under India’s BRICS Chairship 2026, with the objective of strengthening cooperation on global economic and financial issues.
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