Seville [Spain], July 1 (ANI): Union Minister for Finance and Corporate Affairs Nirmala Sitharaman, currently on an official visit to Spain, Portugal, and Brazil, delivered a strong pitch for mobilising private capital for sustainable development at the International Business Forum Leadership Summit titled 'From FFD4 Outcome to Implementation: Unlocking the Potential of Private Capital for Sustainable Development' in Seville, Spain.

Addressing global leaders and investors, Sitharaman highlighted that while private investment has shown encouraging growth in recent years, thanks to a rise in innovative financial instruments and traditional sources, much more needs to be done.

In a social media post, the minister said, 'Private capital mobilisation remains significantly below what is required, with low and middle-income countries receiving a disproportionately small share. This underscores the urgent need for targeted efforts to overcome investment barriers and better align financial flows with development priorities.'

Highlighting India's own journey, Sitharaman stressed the importance of addressing perceived investment risks in emerging markets.

India, she noted, has taken significant steps to overcome these challenges. Sitharaman stated, 'India has addressed this challenge by establishing independent regulators, implementing transparent bidding processes, standardising contracts, and improving the ease of doing business. These reforms have significantly enhanced investor confidence and reduced transaction costs.'

The Finance Minister also highlighted the role of strong domestic financial systems. India has focused on strengthening its banking sector and deepening capital markets to support large-scale financing in infrastructure and industry.

She said India's regulatory frameworks now better balance investor protection with innovation and flexibility, creating an enabling environment for long-term investment.

FM added, 'Our regulatory frameworks have evolved with market needs - balancing investor protection with innovation and flexibility - creating a more conducive environment for long-term investment.'

One of the standout examples presented by Sitharaman was India's transformation in the renewable energy sector. From just 2.8 GW of solar energy installed in 2014, India has expanded its capacity to over 110 GW.

This success, she said, 'was enabled by clear national targets, streamlined procurement, and government-backed risk mitigation. This model attracted institutional investors, including pension and sovereign wealth funds.'

On the sidelines of the FFD4 Summit, Sitharaman also held bilateral meetings with various global leaders.

She met Shane Reti, New Zealand's Minister of Science, Innovation and Technology, Universities, Statistics, and Pacific Peoples. Both ministers discussed cooperation in defence, education, technology, and agriculture. The two leaders reaffirmed the shared democratic values and strong people-to-people ties between India and New Zealand.

Sitharaman also spoke about India's growing International Financial Services Centre at GIFT City and highlighted investment opportunities in banking, bullion exchange, capital markets, the FinTech ecosystem, insurance, and reinsurance.

She also noted the importance of educational ties, with many Indian students pursuing higher education in New Zealand.

The Finance Minister also held talks with Reem Alabali-Radovan, Germany's Federal Minister for Economic Cooperation and Development.

Sitharaman congratulated her on her new role and discussed cooperation under the India-Germany Green and Sustainable Development Partnership.

The discussions included collaboration in areas such as green energy, urban mobility, sustainable urban development, and ecological livelihoods. Minister Alabali-Radovan expressed interest in deepening bilateral ties and enhancing cooperation with India.

Sitharaman is leading an Indian delegation from the Department of Economic Affairs during this official trip from June 30 to July 5.

Her itinerary includes a visit to Lisbon, Portugal, where she will hold a bilateral meeting with the Portuguese Finance Minister and interact with the Indian diaspora and investors. In Rio de Janeiro, Brazil, she will address the 10th Annual Meeting of the New Development Bank (NDB) as India's Governor and also participate in the BRICS Finance Ministers and Central Bank Governors Meeting.

She is also expected to hold bilateral discussions with her counterparts from Brazil, China, Indonesia, and Russia. (ANI)