Bharat wants to make its financial hub
in Gujarat, a centre for global sustainable finance, to help fund the $10
trillion investment needed to achieve its 2070 net zero emissions goal, said Prime
Minister Narendra Modi on Saturday.
“GIFT IFSC is an efficient channel to
make Bharat a low-carbon economy and get the required green capital flow.
Issuance of financial instruments such as green bonds, sustainable bonds, and
sustainability-linked bonds will help the world,” stated PM Modi.
He said Bharat wants to expand the role
of GIFT City to make it a new-age financial services and technology nerve
centre.
GIFT-IFSC is a tax-neutral financial
centre that aims to compete with hubs like Singapore as it provides fiscal
incentives and a looser regulatory environment.
Reuters
