October 4, 2024
2 mins read

Nirmala invites European investors to boost India’s green transition

During the meeting, the European Commissioner highlighted the EU’s initiative called ‘NextGenerationEU Green Bonds…reports Asian Lite News

Union Finance and Corporate Minister Nirmala Sitharaman on Thursday invited European investors to invest in Indian infrastructure and the green transition industry during a meeting with the delegation led by European Commissioner for Budget and Administration, Johannes Hahn.

The Ministry of Finance, in a post on social media “X” added that both sides appreciated significant developments in India and the European Union in recent years.

In the post, the Finance Ministry added, “Both sides appreciated significant developments in India-EU relations in recent years. @JHahnEU highlighted EU’s initiative of ‘NextGenerationEU Green bonds for raising money for green and #sustainable #investments. FM @nsitharaman invited European investors to explore expanding opportunities in Indian infrastructure sector and green transition industry.”

During the meeting, the European Commissioner highlighted the EU’s initiative called ‘NextGenerationEU Green Bonds which aims to raise money for green and sustainable investments, the post added.

For context, the “Next Generation EU” green bond is a European Commission economic recovery package to support the EU member states in recovery from the pandemic Covid-19.

NextGenerationEU green bond funds will be used for nine broad categories of expenditure, including energy efficiency, clean energy, and climate change adaptation, according to the information provided by the European Commission.

Speaking to the ANI earlier on August 1, Hahn highlighted the benefits of Eurobonds, stating that these bonds are an opportunity for Indian investors, as they will not only invest in bonds but will also be investing in European industries.

“It is a AAA-rated bond… it is a solid, sustainable and successful bond that generates quite attractive yields…it contributes to the reinforcement of the European economy, means European single market. The European single market is very important for Indian companies,” he added.

During the interaction, the EU representative batted for the free trade agreement (FTA) between India and the EU, saying that having an FTA would be in the mutual interest of both sides.

Emphasising the need to strengthen relations between both sides, he advocated for a close relationship between India and the EU, adding that there is always room for improvement. (ANI)

ALSO READ: India-Japan strengthen collaboration in science, tech  

Previous Story

India to USCIRF: ‘Utilise time on addressing rights issues in US’

Next Story

Iran will pay a price, says Israel envoy to India

Latest from -Top News

Singapore Sets Stage for May 3 Polls 

Singapore heads to the polls on May 3 with 211 candidates contesting 92 seats. Prime Minister Lawrence Wong leads the PAP into its first election since his succession from Lee Hsien Loong. 

Choksi’s Bail Rejected by Belgium Court 

Choksi, who was arrested in Belgium last week following a request from Indian authorities, remains in custody in Antwerp.  A Belgian court has denied bail to Mehul Choksi, the Indian fugitive businessman

India, US Edge Closer to Trade Deal 

US Vice President J.D. Vance defended President Donald Trump’s approach to trade as pragmatic and future-oriented. In a significant move signalling deepening economic cooperation between India and the United States, both nations
Go toTop

Don't Miss

Kazind–2022: India and Kazakhstan begin joint military drill

Kazakhstan Army soldiers comprising of troops from the Regional Command,

Iran Envoy to India says Iran played no role in Hamas attack on Israel

Responding to an email questionnaire sent by ANI on the