NIIF (Syllabus: GS Paper 3 – Economy)

News-CRUX-10     5th October 2023        

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.