<h1>India Ratifies Asian Infrastructure Investment Bank Agreement, Poised to Become Second-Largest Shareholder After China.</h1> The Union Cabinet of India, led by the Prime Minister, approved the ratification of the Articles of Agreement for the Asian Infrastructure Investment Bank (AIIB). This move positions India as a significant player, potentially becoming the second-largest shareholder after China. The AIIB aims to facilitate infrastructure and sustainable development financing, offering India and other members additional resources. This development is crucial for India, given its reliance on government and multilateral banks for infrastructure funding, and comes amid fiscal consolidation and a cautious private sector. AIIB membership is expected to enhance resource availability for India's infrastructure projects.