BRICS economies major growth engines of global economy: FM

New Delhi: Union Finance Minister Nirmala Sitharaman has said that public capital should act as a catalyst for private investment, rather than a substitute for it.

Addressing a seminar in Jaipur on the role of the New Development Bank in mobilising private capital in BRICS member countries, Sitharaman said BRICS economies are among the major engines of global growth, but they also face challenges in attracting private capital.

She said that besides ensuring the availability of capital, it is equally important to build investor confidence, maintain stability and provide a predictable, long-term policy framework.