Nirmala Sitharaman Courted European Investors for India's Green Transition

Union Finance Minister Nirmala Sitharaman urged European investors to consider opportunities in Indian infrastructure and green transition during a meeting with European Commissioner Johannes Hahn. Both parties acknowledged recent advancements in EU-India relations, including the EU's 'NextGenerationEU Green Bonds' initiative to promote sustainable investments.

Union Finance and Corporate Minister Nirmala Sitharaman extended an invitation to European investors, encouraging them to venture into India's burgeoning infrastructure and green transition sectors. This appeal was made during a conference with a delegation headed by European Commissioner for Budget and Administration, Johannes Hahn.

The Ministry of Finance took to social media platform 'X' to highlight the mutual acknowledgment of significant developments between India and the European Union in recent years. Commissioner Hahn underscored the EU's 'NextGenerationEU Green Bonds' initiative, which is designed to generate funds for sustainable investments.

The 'Next Generation EU' green bond serves as a robust economic recovery package by the European Commission to aid EU member states in their post-pandemic recovery efforts. These funds are allocated across nine categories, focusing on energy efficiency, clean energy, and climate change adaptation, according to the Commission.

In an earlier conversation with ANI on August 1, Commissioner Hahn emphasized the potential benefits of Eurobonds for Indian investors. He noted that these AAA-rated bonds are not only secure and offer attractive yields but also contribute to fortifying the European economy.

During their discussion, Commissioner Hahn also advocated for a free trade agreement (FTA) between India and the EU, emphasizing the mutual benefits and the necessity of reinforcing bilateral ties, while suggesting that there is always scope for further improvement.

(With inputs from agencies.)