Cabinet Approves Rs 30,000 Crore Additional Investment Commitment for NIIF

New Delhi, Jun 30 (KNN) The Union Cabinet has approved an additional Rs 30,000 crore investment commitment to the National Investment and Infrastructure Fund (NIIF), doubling the Government of India's total commitment to Rs 60,000 crore.

The additional allocation will support the establishment of NIIF Infrastructure Fund II, the successor to NIIF's first infrastructure fund. 

The proposed fund will have a target corpus of around Rs 30,000 crore and is expected to invest in transportation, energy, digital infrastructure, urban infrastructure and electric mobility. The allocation will also support new fund strategies and successor bilateral funds.

NIIF is India's sovereign-backed investment platform, managed by National Investment and Infrastructure Fund Limited (NIIFL), with the Government of India holding a 49 per cent equity stake. It currently manages capital commitments of around Rs 40,000 crore across its investment strategies.

According to the government, NIIF has returned nearly Rs 12,000 crore to investors through portfolio exits and has raised capital from sovereign wealth funds, pension funds, multilateral institutions and domestic financial institutions.

NIIF currently operates four investment strategies covering infrastructure, private markets, growth equity and climate investments through the India-Japan Fund. Its investments span sectors including transportation, renewable energy, power transmission, digital infrastructure, healthcare, manufacturing, affordable housing, technology and electric mobility.

The government said the additional investment is intended to support future infrastructure investments and expand NIIF's investment platform across priority sectors.

(KNN Bureau)