India’s Prime Minister Narendra Modi wants to turn the state of Gujarat into a global center for sustainable finance. He aims to use this financial hub to fund the $10 trillion investment needed to achieve the country’s goal of net zero emissions by 2070. Modi believes that the GIFT IFSC (India’s International Financial Services Centre) can help India become a low-carbon economy and attract green capital. He emphasized the issuance of financial instruments such as green bonds and sustainability-linked bonds to achieve this. India also wants to expand the role of GIFT City as a new age financial services and technology nerve center. GIFT-IFSC is a tax-neutral financial center that aims to compete with hubs like Singapore by offering fiscal incentives and a looser regulatory environment. India’s focus on sustainable finance is part of its efforts to address climate change and environmental concerns. Source: Brecorder

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