Finance Minister offered investment in India's infrastructure and Green industry to European investors
Oct 03, 2024
New Delhi [India], October 3 : 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.
