British International Investment (BII), the UK’s development finance institution (DFI) and impact investor, has announced the appointment of Manav Bansal as its new Head of India and Managing Director, effective 1st July 2022. Mr Bansal will oversee the DFI’s ambitions to invest up to $3 billion in India over the next five years and work to further strengthen BII’s presence across India.
Based in Mumbai, Mr Bansal will lead a 40 strong team and report directly to Managing Director and Head of Asia at BII, Srini Nagarajan, who previously covered India. His overall focus will be on delivering BII’s 2022-26 strategy with the dual mandate of supporting private sector growth and long-term development goals in India, in particular the country’s ambitions to meet renewable energy capacity by 2030. With BII pledging to invest up to $1 billion in climate finance in India over the next five years, Mr Bansal and his team will continue to partner with businesses whose ambitions align with the DFI’s climate objectives and are providing innovative solutions that can meet India’s increasing demand for sustainable energy.
Bansal brings to BII over 20 years’ experience as a private equity investor and investment banker in infrastructure, healthcare and technology. He has held various senior positions including most recently as CEO for Neev Funds, which is backed by the UK Government. Prior to this, he worked for various leading organisations including KPMG and PwC, leading initiatives for corporate advisory, cross-border M&A, and policy advisory to governments including India. Mr Bansal is a civil engineer, graduating from Jamia Millia Islamia University and holds an MBA from the Management Development Institute.
Commenting on his new role, Bansal said: “It is a huge honour to have this opportunity to lead BII’s operations in India, the organisation’s biggest investment market globally. I look forward to working with this remarkable team to build on the solid foundations that have been laid and drive BII’s strategic vision forward in India – supporting key economic sectors and unlocking the potential in local businesses for long-term growth, that benefits not only communities but also the planet.”
Srini Nagarajan, Managing Director and Head of Asia at BII, who will be taking on a wider role as part of BII’s expanded remit into the Indo-pacific region said: “We are extremely pleased to have Manav on board as the depth and breadth of his experience, will strengthen BII’s ambition to broaden our impact in India. His leadership will be instrumental in executing our new five-year strategy, ensuring our investment into critical areas such as climate change and early-stage businesses continue to deliver productive, sustainable and inclusive impact over the long-term across India.”