New steps to tackle climate change and boost investment were announced on Thursday at the 11th India-UK Economic and Financial Dialogue (EFD) between Finance Minister Nirmala Sitharaman and UK Chancellor Rishi Sunak, driving forward the bilateral agenda of an Enhanced Trade Partnership.
Sitharaman and Sunak, who met virtually for the annual summit, signed off a USD 1.2-billion package of public and private investment in green projects and renewable energy to boost India’s green growth ambitions.
This includes a USD 1 billion investment from CDC, the UK’s development finance institution in green projects in India, joint investments by both Governments to support companies working on innovative green tech solutions, and a new USD 200 million private and multilateral investment into the joint Green Growth Equity Fund which invests in Indian renewable energy.