Joint UK-India Fund | Details
- Namely a Green Growth Equity Fund, it aims to leverage private sector investment from the City of London to invest in Green Infrastructure Projects in India. Both Governments reaffirmed their commitment to anchor invest up to £120 million each (i.e. totally £ 240 million) in the Joint Fund which will be established under the NIIF framework.
- India and the UK announced the launch of an Early Market Engagement for the joint UK-India Fund, namely a Green Growth Equity Fund which aims to leverage private sector investment from the City of London to invest in green infrastructure projects in India.
Joint UK-India Fund | Highlights
- Fund aims to raise around £500 million, with the potential to unlock much more in future.
- The initial investments will focus on India’s rapidly growing green energy and renewable market and that a Fund Manager is expected to be selected in the next few months.
- Progress will be accelerated through early market engagement via the publication of a blueprint, with the aim to identify additional and complementary sectors for fund investments.
Joint UK-India Fund | Governing principles
The governing principles for the Fund are
- Developmental (i.e. for the purpose of inclusive economic growth)
- Sustainable (i.e. commercially viable)
- Replicable (i.e. attract investors to successive funds)
- Leverageable, attracting both Indian, UK based and global capital into the fund as well as into investee companies/projects
- Governed in line with best practice
Joint UK-India Fund | About NIIF
- The National Investment and Infrastructure Fund (NIIF) has been created by the Government of India (GoI) to catalyze capital from international and domestic investors into infrastructure and allied sectors in India.
- The GoI has committed INR 20,000 crores (USD 3 billion) to be managed by NIIF Limited, the manager of NIIF, through one or more funds to be set up in partnership with non-GoI investors.
- A component of NIIF’s investment strategy will be to anchor equity, quasi-equity and debt funds in partnership with investors targeting investments in the relevant sectors in India.
- NIIF will operate on the basis of three principles in implementing this strategy: commercial, additional and in partnership with others.