India / NEXI Underwrites USD 600 Million equivalent Loan Insurance for Reliance Industries Limited

Nippon Export and Investment Insurance (NEXI) announced that it has underwritten loan insurance of approximately USD 600 million equivalent for term loans extended to Reliance Industries Limited (“Reliance”) of the Republic of India. On the occasion the India-Japan Joint Economic Forum held on July 2, 2026, with the presence Prime Minister Sanae Takaichi visiting New Delhi as well as the presence of Prime Minister Narendra Modi, NEXI and Reliance signed a Collaboration Letter Agreement (CLA) regarding the underwriting of the above-mentioned loan insurance and mutual business cooperation.

This transaction is to provide NEXI’s loan insurance covering USD 600 million equivalent term loan facilities to Reliance arranged and financed by MUFG Bank, Ltd.. The proceeds of the term loan facilities will be utilized by Reliance mainly for procurement of raw materials and R&D expenses relating to the manufacturing of solar photovoltaic modules and battery energy storage systems in collaboration with Japanese companies. Through NEXI’s support, this initiative is expected to expand collaboration between Reliance and Japanese companies across sectors including in the clean energy sector, where Japan has strong technological advantages, so as to contribute for strengthening economic security and resilient supply chains through close public–private cooperation between Japan and India.

Under the CLA signed between NEXI and Reliance, NEXI will promote cooperation between Reliance and Japanese companies in relevant sectors of mutual interest including the clean energy sector by organizing business match-making events, facilitating bilateral business meetings between companies, and conducting regular exchanges of information on the progress of inter-company collaborations.

NEXI will continue to actively support the overseas business expansion of Japanese companies and promote cooperation with strategically important emerging economies by utilizing its trade and investment insurance tools.

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Contact:
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