CII Advocates Green Finance Institution to Propel India's Economy

Industry body CII is urging the Indian government to establish a dedicated Green Finance Institution and tech expo fund. The aim is to secure long-term, low-cost capital for green initiatives across various sectors, as India progresses towards its USD 5 trillion economy goal.

The Confederation of Indian Industry (CII) has called on the government to create a dedicated financial body and a tech expo fund aimed at advancing India's green economy, citing gaps in long-term and low-cost capital availability.

As India edges closer to its USD 5 trillion economy target, embracing a green economy has become a strategic imperative rather than a choice, CII noted.

In its recommendations ahead of the national budget, CII proposed the establishment of a Green Finance Institution (GFI) to mobilize large-scale, low-cost funds for sectors like renewable energy, clean mobility, and industrial decarbonization. The institution could benefit from being based in Gujarat's GIFT City for regulatory advantages and to attract foreign capital.

(With inputs from agencies.)