AHMEDABAD, India, Dec 9 (Reuters) – India is upgrading its financial hub in the western state of Gujarat to a global sustainable development plan to help finance the $10 trillion in investments needed to reach its 2070 net-zero emissions target. Prime Minister Narendra Modi has said that he wants to make it a financial hub. he said Saturday.
“GIFT IFSC is an efficient channel to make India a low-carbon economy and get the necessary green capital flows. Issuance of financial instruments such as green bonds, sustainable bonds and sustainability-linked bonds will help the world,” Modi said. the Prime Minister said in his speech. .
He said India wants to expand the role of GIFT City and make it a new-age financial services and technology hub.
GIFT-IFSC is a tax-neutral financial center that aims to compete with hubs like Singapore by offering financial incentives and a relaxed regulatory environment.
Report by Jayshree P Upadhyay from Ahmedabad. Written by Nidhi Verma.Editing: William Mallard
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