National Investment and Infrastructure Fund Limited (NIIFL) is an investment platform for international and Indian investors anchored by the Government of India. The objective behind creating this organisation was to catalyse capital into the country and support its growth needs across sectors of importance. In Union Budget 2015-16, India’s then Finance Minister, Arun Jaitley announced the creation of NIIFL. It was proposed to be established as an Alternative Investment Fund with an inflow of ₹20,000 crore from the Government of India, with their commitment being 49% of the total corpus. NIIFL was approved in August 2015 by the Department of Economic Affairs. First meeting of its governing council was held in December 2015 further to which it was registered with SEBI as Category II Alternative Investment Fund. In June 2016, Finance Ministry announced that they appointed Sujoy Bose as Chief Executive Office of NIIFL who was then the Director and Global Co-Head, Infrastructure and Natural Resources International Finance Corporation (IFC). As of September 2020, the NIIFL manages funds of over USD$4.34 billion. History The Government of India founded the National Investment and Infrastructure Fund Limited (NIIFL) in February 2015 as a sovereign-anchored fund. Its creation was announced in the Union Budget of 2015-16 by the then Finance Minister Arun Jaitley. In October 2016, Sujoy Bose was appointed as the Managing Director and CEO of NIIF. In December 2020, NIIFL achieved the final close of its infrastructure Fund, NIIF Master Fund USD 2.34 billion. Leadership The Governing Council of the National Investment and Infrastructure Fund (NIIF) is chaired by the Hon’ble Finance Minister of India and has members from corporate bodies, investments and policy sectors. The Governing Council meets once a year and provides suggestions of the overall strategic decisions of the NIIFL. The Governing Council is currently chaired by Hon’ble Finance Minister of India Nirmala Sitharaman, Finance Minister of India. Among the other council members are Debasish Panda (Secretary of Financial Services), Ajay Seth (Secretary, Department of Economic Affairs), Dinesh Khara (Chairman, State Bank of India), Hemendra Kothari (Chairman, DSP Group), T. V. Mohandas Pai (Chairman, Manipal Global Education). NIIFL’s Board of Directors establishes and reviews the business strategy that guides the business affairs of the organization. It is composed of shareholder representatives and/or nominees and independent directors. Sujoy Bose is the Managing Director and CEO of the organization. Erstwhile Managing Director – India of Temasek, Padmanabh Sinha is the