India’s NIIF lets government dodge losses while private investors reap gains
India’s National Investment and Infrastructure Fund (NIIF), a Rs 48,000 crore quasi‑sovereign fund, has made six exits – all to its own marquee investors like Temasek and AIDA. Because the government only holds 49% and bears any downside, private partners keep the upside, raising concerns about incentives and the fund’s role in financing needed infrastructure.