New Delhi, June 30 -- The Union Cabinet has approved an additional Rs 30,000 crore investment commitment to the National Investment and Infrastructure Fund (NIIF), doubling the Government of India's total commitment to Rs 60,000 crore.

The additional allocation will support the establishment of NIIF Infrastructure Fund II, the successor to NIIF's first infrastructure fund.

The proposed fund will have a target corpus of around Rs 30,000 crore and is expected to invest in transportation, energy, digital infrastructure, urban infrastructure and electric mobility. The allocation will also support new fund strategies and successor bilateral funds.

NIIF is India's sovereign-backed investment platform, managed by National Investment and Infra...