National Investment and Infrastructure Fund (NIIF) has signed an MoU with RUSNANO OJSC of Russia to cooperate in diverse sectors and facilitate high-technology investments in India. As per the MoU, both the Parties will establish a joint working group with a view to further develop cooperation between the Parties and work on the development of the definitive agreements.

 About NIIF 

The Government of India has established the NIIF as a Category II Alternate Investment Fund (AIF) under the Securities and Exchange Board of India (SEBI) Regulations.

NIIF is financed from Government’s own contribution and is expected to have equity participation from both foreign and domestic strategic anchor partners, with the Government’s share being 49%.

The initial authorized corpus of NIIF is Rs. 40,000 crore, which may be raised from time to time.

 Objective of NIIF 

The objective of NIIF is to maximise economic impact mainly through infrastructure development in commercially viable projects, both Greenfield and Brownfield, including stalled projects and other nationally important projects in India.

 RUSNANO 

RUSNANO is a Russian development institute with interest to invest in projects in the field of high technologies and defense including the projects aimed at establishment of manufacturing industrial enterprises in India.