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October 4, 2023 3:18 PM IST

NIIF launches $600 million India-Japan fund with government of India and JBIC as anchor investors

India-Japan Fund | JBIC | Environmental Sustainability | Japanese Investments in India | Indo-Japan Relations

The National Investment and Infrastructure Fund (NIIF) and the Japan Bank for International Cooperation (JBIC) jointly launched the India-Japan Fund (IJF) on October 4 to encourage Japanese investments in India.

The $600 million fund will be managed by JBIC IG and NIIF Limited (NIIFL) plus two JBIC subsidiaries that will assist NIIFL in encouraging Japanese investments in India. The fund wants to act as a “partner of choice” to encourage Japanese investments in India.

JBIC and the Government of India (GoI) are the fund’s anchor investors, contributing $600 million. The collaborative endeavour is concentrated on raising investments in low-carbon emission and environmental sustainability measures. The IJF is the NIIF’s first bi-lateral fund, with JBIC providing the remaining 51% of the target capital and the Indian government providing 49%.

The Ministry of Finance stated in a press statement that the establishment of the India Japan Fund represents is a key milestone in the strategic and economic partnership between the India and Japan.

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