Nirmala Sitharaman pitches India to global financial leaders in Singapore

Union Finance Minister Nirmala Sitharaman met senior executives from five leading global financial institutions and investment firms in Singapore on Sunday, pitching India's strong economic foundation to secure foreign capital across infrastructure, renewable energy, artificial intelligence, and private credit.

The discussions, detailed in official statements released by the Union Ministry of Finance on X, brought together leaders from Japanese banking giants Mitsubishi UFJ Financial Group (MUFG) and Sumitomo Mitsui Banking Corporation (SMBC), European lender Skandinaviska Enskilda Banken (SEB), private credit manager HPS Investment Partners, and venture firm B Capital Group.

Throughout the bilateral sessions, Sitharaman highlighted India's expanding project pipeline and invited institutions to deepen engagement with state-backed financing platforms, including the National Investment and Infrastructure Fund (NIIF), the National Bank for Financing Infrastructure and Development (NaBFID), and Gujarat International Finance Tec-City (GIFT IFSC).

Infrastructure and private credit

In talks with HPS Investment Partners Chief Executive Scott Kapnick, the discussions focused on private credit, structured finance, and long-term business debt. Sitharaman encouraged the firm to set up a dedicated fund in GIFT IFSC and partner with NIIF to help finance major domestic infrastructure works. The ministry noted that HPS emphasised using debt capital alongside equity investments to fund large-scale developments.

During her meeting with MUFG Asia Pacific Chief Executive Yukinobu Saeki, the Finance Minister examined avenues to expand the Japanese institution's footprint in India across capital markets, project finance, green energy, and mergers and acquisitions. Sitharaman urged closer collaboration with NaBFID and addressed financing channels for small and medium enterprises, while the two sides discussed regulatory roadshows to broaden investor engagement and market governance.

Sustainable finance, aviation and artificial intelligence

Meeting with SMBC Managing Executive Officer and Co-Head for Asia Pacific Rajeev Kannan, the Finance Minister discussed opportunities in trade finance, non-banking financial companies (NBFCs), and affordable housing. Sitharaman urged SMBC to explore aircraft leasing structures through GIFT IFSC and step up participation via NIIF.

European capital flows formed the core of discussions with SEB Chairperson Marcus Wallenberg. The talks explored how institutional investors from Europe could back Indian data centres, healthcare, IT, and sustainable finance. Wallenberg and the SEB delegation pointed to growing interest in the green transition, housing finance, and private equity funding for Indian NBFCs, with Sitharaman inviting the Swedish bank to invest through NIIF and GIFT IFSC.

Technological transformation led the agenda in her discussion with B Capital Group Co-founder and Chief Executive Raj Ganguly. The dialogue centred on sovereign artificial intelligence and the wider technology ecosystem. Sitharaman made the case for India's emerging role as a global centre for AI services, urging the firm to explore AI deployments in domestic banking and finance. In turn, the B Capital leadership highlighted that international investors place high value on India's stable currency and transparent tax policies.

The outreach forms part of New Delhi's ongoing campaign to position India as the primary destination for long-term global investment, matching international capital with the country's rapid physical and digital infrastructure rollout.