September 19, 2025: The chairman of the Securities and Exchange Board of India (Sebi), Tuhin Kanta Pandey, has called for an acceleration of asset monetisation across key sectors including roads, railways, ports and energy to bolster the country’s infrastructure pipeline.
Speaking at an infrastructure conclave hosted by the National Bank for Financing Infrastructure and Development (NaBFID) on Thursday, Pandey highlighted that the Central government’s asset monetisation programme has already been instrumental in developing a market for Infrastructure Investment Trusts (InvITs). However, he warned that state governments, with a few exceptions, have yet to finalise their monetisation strategies, creating a gap that needs urgent attention.
“Looking ahead, we must quicken the pace of monetisation in sectors such as roads, ports, airports, petroleum, gas and logistics. State-level initiatives remain underdeveloped, and this has to be addressed to fully unlock the potential for infrastructure creation,” Pandey said.
He emphasised that India’s infrastructure ambitions require unprecedented volumes of capital, which cannot be delivered solely by public resources. “The government and banks cannot, and should not, shoulder this responsibility on their own. Capital markets must serve as the engine for mobilising long-term funds, spreading risks and ensuring efficient deployment of capital,” he stated.
Pandey underscored that vehicles such as InvITs, Real Estate Investment Trusts (REITs), public-private partnerships (PPP) and securitisation models are crucial in supporting the monetisation drive. He further pointed out that capital markets channel savings from pension funds, insurers, sovereign wealth funds and long-horizon investors into infrastructure assets, providing the patient capital necessary for sustained growth.
By diversifying financing sources and spreading risk, capital markets, he argued, can ensure that India’s infrastructure ambitions are matched by the scale and stability of investment required.
Source: The Indian Express
