Indian Economy News

'Green finance could be bright, robust strand of growing India-US ties'

  • IBEF
  • July 22, 2022

Green finance may become a bright and robust strand of the expanding economic links between India and the US in the next 25 years, and the two countries have the intent and will to lead the global fight against climate change.

According to Mr. Taranjit Singh Sandhu, India's Ambassador to the US, the green economy is diversified globally but concentrated in a small number of nations. It will inevitably find new and rising markets like India.

More than 300 people from all over the world attended the two-day conference, which was organised by the Indian Embassy in Washington DC, in association with the Federation of Indian Chamber of Commerce and Industry (FICCI).

The US Development Finance Corporation's (USDFC) CEO, Mr. Scott Nathan, emphasised in his remarks that his organization's commitments to India represent nearly 10% of its active portfolio and its largest partnership with any one country. Although the USDFC has already invested US$ 1 billion in India's clean energy industry as climate finance, he continued, the American development bank looks forward to extending its commitment, including in areas like mobility and adaptation.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.