The Pension Fund Regulatory and Development Authority (PFRDA) has established a committee to develop a strategic roadmap for attracting long-term global pension capital into the country. According to reports from ZeeBiz WebTeam and Business Standard, this panel -- formally known as Accelerated Scaling of Global Capital Ecosystem and NPS Development (ASCEND) -- will achieve its objectives through collaboration between domestic pension funds with their major global counterparts under the same architecture used for the National Pension System (NPS). The initiative comes as the country looks to finance its infrastructure and nation-building projects through global pension funds, with global pension funds managing one of the world's largest pools of long-term capital that are well suited to finance Indian infrastructure assets. As reported by Business Standard, the initiative is designed to channel long-term, stable capital into India while safeguarding the interests of NPS subscribers.
The ASCEND panel will focus on collaboration between domestic pension funds with their major global counterparts under the same architecture used for the National Pension System. As reported by ZeeBiz WebTeam and Business Standard, this approach leverages the existing framework of the government-backed, market-linked defined contribution scheme to facilitate international partnerships. The committee's panel of experts will recommend ways for Indian pension funds managing the retirement savings of more than 100 million NPS subscribers to collaborate with global pension funds via initiatives such as co-investment platforms, strategic partnerships and innovative investment structures. Such collaboration is expected to channel stable, patient capital into India's infrastructure sector, deepen domestic capital markets and support sustainable economic growth, with the committee specifically designed to help 10 crore NPS subscribers diversify their investment options and access long-term risk-adjusted returns. According to Business Standard, these partnerships could take the form of co-investment platforms, strategic partnerships and innovative investment structures, allowing Indian pension funds to work alongside leading international pension investors.
According to the pension regulator's statement reported by ZeeBiz WebTeam and Business Standard, the country's journey towards becoming a global economic powerhouse requires sustained access to stable, long-term capital to finance its ambitious infrastructure development agenda and support inclusive economic growth. The initiative positions global pension capital as a critical component of India's long-term economic development strategy, with the move reflecting India's growing focus on leveraging global institutional capital to meet its ambitious infrastructure development goals while enhancing the investment ecosystem for over 100 million NPS subscribers. Greater collaboration could support the growth of domestic capital markets and provide opportunities for portfolio diversification and long-term risk-adjusted returns for NPS subscribers, with the panel looking to boost infrastructure financing, accelerate NPS asset growth and reinforce India's position as a preferred destination for long-term investment. As reported by Business Standard, the partnership is expected to channel stable, patient capital into India's infrastructure sector, deepen domestic capital markets and support sustainable economic growth.
The ASCEND Committee will be chaired by Shri Dinesh Khara, Chairman of NPS Trust, with the panel including several distinguished professionals from the financial and investment sectors. As reported by PFRDA, the committee includes Shri Narayan Ramachandran, Chairman, TeamLease Services Ltd., Shri Ananth Narayan, Former Whole-Time Member, SEBI, Shri Ashvin Parekh, Managing Partner, Ashvin Parekh Advisory Services, Dr. Arvind Gupta, Trustee, NPS Trust, and Ms. Suparna Tandon, CEO, NPS Trust as Member Secretary. One of the key responsibilities of the committee will be to recommend an appropriate policy, regulatory and governance framework that encourages greater participation of global pension investors without compromising subscriber interests or financial stability. The panel will primarily focus on establishing a policy, regulatory and governance framework that enables and promotes increased participation by global pension investors while protecting subscriber interests and maintaining financial stability. According to Business Standard, the committee's primary responsibility will be to recommend a policy, regulatory and governance framework that encourages greater participation by global pension investors while protecting subscriber interests and maintaining financial stability.
According to PFRDA, the committee's recommendations are expected to lay the foundation for a globally competitive pension ecosystem that supports India's long-term infrastructure financing needs. The authority noted that pension funds under the National Pension System currently manage assets worth approximately ₹17.5 lakh crore, representing nearly 5% of India's GDP. As reported by Business Standard, pension funds under NPS manage assets worth nearly $185 billion (around ₹17.5 trillion), equivalent to about 5 per cent of the country's gross domestic product. By attracting greater global pension participation, PFRDA aims to significantly expand the scale and impact of India's pension investment ecosystem, with the committee planning to encourage collaboration between Indian pension funds operating under the NPS framework and leading global pension funds through co-investment platforms, strategic investment partnerships, and innovative investment structures for long-term capital deployment. The panel's recommendations are designed to strengthen the functioning of Indian pension funds and boost infrastructure financing while reinforcing India's position as a preferred destination for long-term investment.
