Indian Prime Minister Narendra Modi stated on Saturday that India aims to make the GIFT City financial center in the western state of Gujarat a hub for global sustainable finance to help fund a $10 trillion investment needed to achieve the net-zero emissions target by 2070. In a speech, Modi mentioned that establishing the "GIFT Global Financial Services Center is an effective channel to make India a low-carbon economy and secure the necessary green capital flow. Issuing financial instruments such as green bonds, sustainable bonds, and sustainability-linked bonds will assist the world." He added that India seeks to expand GIFT City's role to make it a center for financial and technical services belonging to a new era. GIFT Global Financial Services aims to compete with centers like Singapore by offering financial incentives and a more favorable regulatory environment.
Indian Prime Minister Aims to Transform GIFT City into a Global Sustainable Finance Hub
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