GANDHINAGAR: Finance minister Nirmala Sitharaman mentioned India has a funding hole of $10.1 trillion to fulfill its web zero dedication and the Worldwide Monetary Providers Centre Authority (IFSCA) wants a platform the place inexperienced credit score may be traded.
Addressing a seminar on ‘Present Metropolis – an aspiration for contemporary India’, organised as a part of VGGS 2024 in Gandhinagar, Sitharaman mentioned Present Metropolis has expanded to turn into a significant worldwide monetary hub.
“Authorities right here ought to work on getting a platform prepared in order that inexperienced credit may be offered by people who find themselves planting timber. Present Metropolis will help bridge the funding hole for India to fulfill its web zero targets, by such a platform,” Sitharaman mentioned.
In 2023, the federal government mentioned listed and unlisted corporations will quickly be capable of record themselves immediately on IFSCA exchanges. At current, Indian corporations can solely entry overseas fairness markets by issuing depository receipts or by itemizing debt securities.
FM mentioned: “A lot awaited direct itemizing of inventory in Present IFSC was introduced earlier. We’re going by the method in a scientific method and I am assured that it’ll occur on the earliest. With that Indian corporations ought to be capable of entry international funds simply being listed in India.” The unified IFSCA is working with the finance ministry, and several other new initiatives are in progress.
Addressing a seminar on ‘Present Metropolis – an aspiration for contemporary India’, organised as a part of VGGS 2024 in Gandhinagar, Sitharaman mentioned Present Metropolis has expanded to turn into a significant worldwide monetary hub.
“Authorities right here ought to work on getting a platform prepared in order that inexperienced credit may be offered by people who find themselves planting timber. Present Metropolis will help bridge the funding hole for India to fulfill its web zero targets, by such a platform,” Sitharaman mentioned.
In 2023, the federal government mentioned listed and unlisted corporations will quickly be capable of record themselves immediately on IFSCA exchanges. At current, Indian corporations can solely entry overseas fairness markets by issuing depository receipts or by itemizing debt securities.
FM mentioned: “A lot awaited direct itemizing of inventory in Present IFSC was introduced earlier. We’re going by the method in a scientific method and I am assured that it’ll occur on the earliest. With that Indian corporations ought to be capable of entry international funds simply being listed in India.” The unified IFSCA is working with the finance ministry, and several other new initiatives are in progress.
