Union Finance Minister Nirmala Sitharaman held a series of meetings with senior executives from five global financial institutions and investment firms in Singapore to discuss expanding investment and business engagement in India. The discussions focused on infrastructure financing, private credit, artificial intelligence (AI), renewable energy, housing finance and capital markets.
According to updates shared by the Ministry of Finance, Sitharaman met representatives from Sumitomo Mitsui Banking Corporation (SMBC), Skandinaviska Enskilda Banken (SEB), HPS Investment Partners, B Capital Group and Mitsubishi UFJ Financial Group (MUFG).
The meetings aimed to identify opportunities for international financial institutions to participate in India’s economic development, support businesses and infrastructure projects, and explore emerging sectors such as AI and renewable energy.
HPS Investment Partners: Private Credit and Infrastructure Financing
During her meeting with HPS Investment Partners CEO Scott Kapnick, Sitharaman discussed private credit, structured finance and long-term financing opportunities for businesses.
The Finance Minister encouraged HPS Investment Partners to explore establishing a fund in Gujarat International Finance Tec-City’s International Financial Services Centre (GIFT IFSC). She also highlighted the potential for collaboration with the National Investment and Infrastructure Fund (NIIF) to mobilise financing for large infrastructure projects in India.
HPS Investment Partners highlighted the potential of debt capital to complement equity investments. Such financing arrangements can provide businesses with additional funding options while supporting long-term infrastructure development.
MUFG: Focus on Capital Markets and Renewable Energy
Sitharaman also met Yukinobu Saeki, MUFG’s Chief Executive for Asia Pacific, to discuss opportunities for the financial institution to expand its engagement in India.
The discussions covered capital markets, infrastructure and project finance, renewable energy and mergers and acquisitions financing.
The Finance Minister encouraged MUFG to strengthen its engagement with the National Bank for Financing Infrastructure and Development (NaBFID) to support infrastructure financing.
The meeting also addressed financing opportunities for Indian small and medium enterprises. Regulatory roadshows aimed at improving market transparency and governance were among the subjects discussed.
Greater participation by international financial institutions could help expand financing options for Indian businesses and infrastructure developers.
SEB Highlights Opportunities for European Investors
During her meeting with Marcus Wallenberg, Chairperson of Skandinaviska Enskilda Banken, Sitharaman discussed India’s economic outlook and ways to strengthen investment flows from European institutional investors.
The SEB delegation identified potential opportunities across several sectors, including energy, data centres, information technology and tax services, healthcare, financial services and housing finance.
The discussions also covered sustainable finance, private equity investments in non-banking financial companies (NBFCs), the green transition and skill development.
These areas reflect the range of sectors in which international investors could explore opportunities as India develops its infrastructure, expands its digital economy and pursues sustainability-related initiatives.
SMBC: Affordable Housing and Aircraft Leasing
Sitharaman met Rajeev Kannan, Managing Executive Officer and Co-Head for Asia Pacific at Sumitomo Mitsui Banking Corporation, to discuss expanding the bank’s involvement in India.
The discussions covered affordable housing finance, financing for NBFCs, trade finance and other priority sectors.
The Finance Minister encouraged SMBC to explore investment and financing opportunities through NIIF and GIFT IFSC, particularly in aircraft leasing.
Aircraft leasing is among the financial activities that can be undertaken through specialised international financial services centres. The discussions highlighted an opportunity to explore further participation by global financial institutions in India’s financing ecosystem.
B Capital Group: Sovereign AI and India’s Technology Potential
In a separate meeting, Sitharaman held discussions with Raj Ganguly, Co-founder and CEO of B Capital Group, focusing on sovereign AI and the broader artificial intelligence ecosystem.
The Finance Minister highlighted India’s potential to emerge as a leader in AI services and encouraged the investment firm to explore applications of artificial intelligence in banking and financial services.
The discussions come amid growing interest in AI-driven solutions across financial institutions, where technology can support operational efficiency, customer services and financial innovation.
B Capital Group also emphasised the importance of a stable currency and predictable, transparent tax policies for investors.
These factors are significant considerations for international investment decisions, particularly for firms assessing long-term opportunities across technology, infrastructure and financial services.
India Seeks to Expand International Investment Partnerships
The meetings in Singapore underline India’s efforts to deepen engagement with global financial institutions and investment firms across traditional and emerging sectors.
The discussions covered potential avenues for financing infrastructure, supporting businesses, attracting capital into renewable energy and housing, and expanding investment in AI and other technology-related activities.
Institutions such as NIIF, NaBFID and GIFT IFSC featured prominently in the conversations as potential channels for international financing and investment participation.
While the meetings identified areas for further engagement, the supplied ministry updates did not announce specific investment commitments or completed financing agreements arising from these discussions.
The outcomes will therefore depend on subsequent negotiations, investment decisions and the development of individual projects. Nevertheless, the discussions highlight India’s continued efforts to attract international capital and strengthen financial partnerships to support its broader economic development.
