NIIF (Syllabus: GS Paper 3 – Economy)

Context: Recently, the National Investment and Infrastructure Fund (NIIF) announced a partnership with the Japan Bank for International Cooperation (JBIC) to establish a $600 million India-Japan Fund (IJF), with JBIC and the Government of India (GoI) as primary investors.

• The announcement marks NIIF’s first bilateral fund, with the GoI contributing 49% of the target corpus and the remaining 51% contributed by JBIC.

National Investment and Infrastructure Fund (NIIF)

• About: NIIF is sponsored and anchored by the Government of India, which holds a 49% interest in it.
• Set up: in December 2015 as a Category-II Alternate Investment Fund.
• NIIF is India’s first sovereign wealth fund.
• Focus: investing in core infrastructure sectors, such as transportation, energy and digital.
• Headquarters: Mumbai.
• Objective: To provide long-term capital to the country’s infrastructure sector.
• It is a collaborative investment platform for international and Indian investors.
• Funds managed: Master fund, Fund Of Funds and  Strategic Fund.