BRICS must build confidence to unlock private capital: Sitharaman

Jaipur: Finance Minister Nirmala Sitharaman said on Wednesday 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, the Finance Minister said in her keynote address at the seminar on “The Role of the New Development Bank in Mobilising Private Capital in Member Countries”. She highlighted the critical role that 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.