Monday 12 / October / 2026
Singapore: Indian Union Finance Minister Nirmala Sitharaman held meetings with senior executives of five global financial institutions and investment firms in Singapore to discuss expanding their engagement in India across infrastructure financing, private credit, artificial intelligence (AI), renewable energy and housing finance.
According to posts shared by the Ministry of Finance on X, the meetings involved representatives from Sumitomo Mitsui Banking Corporation (SMBC), Skandinaviska Enskilda Banken (SEB), HPS Investment Partners, B Capital Group and Mitsubishi UFJ Financial Group (MUFG).
During her meeting with HPS Investment Partners CEO Scott Kapnick, Sitharaman discussed “private credit, structured finance and long-term financing for businesses”.
The ministry’s post said she encouraged HPS to explore setting up a fund in GIFT IFSC and collaboration with the National Investment and Infrastructure Fund (NIIF) to “mobilise financing for large infrastructure projects in India”.
“HPS highlighted the potential to leverage debt capital to complement equity investments,” the ministry said.
In talks with MUFG Chief Executive for Asia Pacific Yukinobu Saeki, discussions focused on expanding the bank’s presence in India, particularly in “capital markets, infrastructure and project finance, renewable energy and M&A financing”.
Sitharaman also encouraged greater engagement with the National Bank for Financing Infrastructure and Development (NaBFID) to support infrastructure financing. The meeting covered financing support for Indian small and medium enterprises and regulatory roadshows to “enhance market transparency and governance”.
During her meeting with SEB Chairperson Marcus Wallenberg, discussions covered India’s economic outlook and ways to strengthen investment flows from European institutional investors. The SEB team highlighted opportunities across “energy and data centres, IT and tax services, healthcare, financial services and housing finance”.
The talks also covered sustainable finance, private equity investments in non-banking financial companies (NBFCs), the green transition and skill development.
Sitharaman also met SMBC Managing Executive Officer and Co-Head for Asia Pacific Rajeev Kannan to discuss opportunities to expand the bank’s engagement in India, including “affordable housing finance, financing for NBFCs, trade finance and other priority sectors”.
She encouraged the bank to explore investment and financing opportunities through NIIF and GIFT IFSC, particularly in aircraft leasing.
Separately, discussions with B Capital Group Co-founder and CEO Raj Ganguly focused on “Sovereign AI and the broader AI ecosystem”. Sitharaman highlighted India’s potential to emerge as a leader in AI services and encouraged the firm to explore AI applications in banking and financial services.
The ministry said B Capital emphasised the importance of a “stable currency and predictable, transparent tax policies” for investors.
The discussions covered potential avenues to expand financing for Indian businesses and infrastructure and attract investment across technology, energy and other sectors.
