India’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.

PFRDA has constituted the ASCEND (Accelerated Scaling of Global Capital Ecosystem and NPS Development) Committee to develop a strategic roadmap for attracting long-term global pension capital into India through collaboration between Indian pension funds under NPS architecture and leading global pension funds.

Global pension funds manage one of the world's largest pools of long-term capital and are well suited to finance Indian infrastructure and other nation-building assets. The Committee has panel of experts will recommend measures to enable Indian pension funds managing the assets of 100 million NPS Subscribers to partner with global pension funds through 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. This partnership provides opportunities for diversification and deliver long term risk adjusted returns to the underlying Subscribers.

A key focus of the Committee will be to create a policy, regulatory and governance framework that facilitates greater participation of global pension investors while safeguarding subscriber interests and financial stability. By strengthening the role of Indian pension funds as trusted domestic partners for global institutional capital, the ASCEND panel aims to enhance infrastructure financing, accelerate NPS asset growth and reinforce India's position as a preferred destination for long-term investment.

The Committee will be chaired by Shri Dinesh Khara, Chairman, NPS Trust, and comprises eminent experts from the financial sector as follows.