Set up tech fund to promote green economy: CII to govt

New Delhi: Industry body CII has urged the government to set up a dedicated finance institution and tech expo fund to support initiatives related to promoting the green economy, as there are significant gaps in long-term and low-cost capital availability in the country.

As India moves closer to its goal of becoming a $5 trillion economy, advancing a green economy is no longer a choice but a strategic necessity, it said. In its pre-Budget suggestions, the chamber has suggested establishing a dedicated Green Finance Institution (GFI) to mobilise large-scale, low-cost capital for India's green transition across renewable energy, clean mobility.