Finance Minister Nirmala Sitharaman met senior executives from five global financial institutions and investment firms in Singapore on Sunday, October 11, 2026, to discuss potential investment in India. The conversations covered infrastructure, capital markets, renewable energy, housing and trade finance, private credit, sustainable finance and artificial intelligence. They were invitations to explore opportunities—not announcements of signed deals, committed sums or completed investments.
What the Singapore meetings covered
The meetings brought together established financing priorities and newer areas such as renewable energy and AI. The account identifies the participants and discussion topics, but does not report specific investment amounts or outcomes.
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| Institution | Executive | Discussion and proposed avenues |
|---|---|---|
| MUFG | Yukinobu Saeki, Chief Executive, Asia Pacific | Capital markets, infrastructure and project finance, renewable energy, and mergers and acquisitions financing. Sitharaman encouraged greater engagement with NaBFID on infrastructure financing. SME financing support and regulatory roadshows on market transparency and governance also came up. |
| Sumitomo Mitsui Banking Corporation (SMBC) | Rajeev Kannan, Managing Executive Officer and Co-Head, Asia Pacific | Affordable housing finance, NBFC financing and trade finance. Sitharaman encouraged the bank to explore opportunities through NIIF and GIFT IFSC, particularly aircraft leasing. |
| SEB | Marcus Wallenberg, Chairperson | India’s economic outlook and engagement with European institutional investors, as well as private equity in NBFCs, sustainable finance, the green transition and skills. Sitharaman invited SEB to explore opportunities through GIFT IFSC and NIIF. |
| HPS Investment Partners | Scott Kapnick, CEO | Private credit, structured finance and long-term business financing. HPS highlighted debt capital as complementary to equity. Sitharaman encouraged the firm to explore setting up a fund in GIFT IFSC and collaborating with NIIF on infrastructure financing. |
| B Capital Group | Raj Ganguly, Co-founder and CEO | Sovereign AI and the broader AI ecosystem, including possible applications in Indian banking and financial services. The B Capital team emphasized currency stability and predictable, transparent tax policies. |
How the proposed follow-up channels fit in
The account names three channels in connection with possible follow-up. It does not set out project terms or establish that any institution has agreed to use them.
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- NaBFID: MUFG was encouraged to engage with it on infrastructure financing.
- NIIF: SMBC and SEB were encouraged to explore opportunities through it; HPS was invited to consider collaboration with it on infrastructure financing.
- GIFT IFSC: SMBC was encouraged to explore opportunities there, particularly aircraft leasing; SEB was also invited to explore opportunities through it, and HPS was encouraged to consider setting up a fund there.
What the report does—and does not—establish
The meeting account describes government outreach: discussions, encouragement and invitations to investigate potential opportunities. It does not report signed agreements, committed investment, a specific financing package or resulting investment outcomes. It also provides no statistics or verbatim quotations. A second PTI publication carries the same account and corroborates the listed names and topics, but is not an independent account of the meetings.
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