JAIPUR, India,13th August, 2026 (WAM) -- BRICS economies represent major growth engines of the global economy, and face common structural constraints in
mobilising private capital at scale, according to an Indian top official.
In her keynote address at a seminar on “Role of the New Development Bank in Mobilising Private Capital in Member Countries” in Jaipur, today, Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman set the context by highlighting the critical role the Multilateral Development Banks play in de-risking investments, enhancing project bankability, and strengthening investor confidence so that private capital can be mobilised at scale.
Sitharaman recognised that while BRICS economies represent major growth engines of the global economy, they also face common structural constraints in mobilising private capital at scale.
''The challenge is not merely the availability of capital, but the creation of confidence, stability, predictability, and credible long-term frameworks which are essential to unlock sustained private participation across member countries,'' she told the event, which held on the sidelines of the BRICS Finance Minsters’ and Central Bank Governors (FMCBG) Meeting.
The Union Finance Minister concluded her keynote address by emphasising that the future of development finance lies in partnership, multilateral institutions, national governments, and the private sector each bring distinct strengths.
The seminar brought together senior policymakers, multilateral institutions and private-sector leaders along with other representatives from BRICS countries, financial institutions, think tanks and academia.