NewKerala.com

India-Luxembourg Boost Green Finance Ties: Sitharaman Meets Gilles Roth

Finance Minister Nirmala Sitharaman met Luxembourg's Finance Minister Gilles Roth in New Delhi to bolster bilateral financial cooperation. The discussions focused on leveraging Luxembourg's expertise in green bonds and sustainable financing for India's development goals. Earlier, Gujarat CM Bhupendra Patel also engaged with the delegation, highlighting Gujarat's sound financial management and exploring mutual cooperation in renewable energy. The existing MoU between IFSCA and Luxembourg's CSSF in GIFT City was noted as a foundation for increased investment and global financial connectivity.

Key Points: Sitharaman Meets Luxembourg Finance Minister in Delhi

  • High-level financial dialogue
  • Focus on green bonds & sustainable finance
  • Strengthening GIFT City investments
  • Luxembourg's €8 trillion asset management sector
  • Gujarat's role as key partner
2 min read

FM Nirmala Sitharaman meets Luxembourg Finance Minister in New Delhi

FM Nirmala Sitharaman meets Luxembourg's Gilles Roth to strengthen financial cooperation, green bonds, and investment in GIFT City.

"expressed his eagerness to further strengthen financial relations with India - Gilles Roth"

New Delhi, February 28

Finance Minister Nirmala Sitharaman met with a delegation from Luxembourg, including Finance Minister Roth Gilles and other officials, in New Delhi on Thursday.

In a post on X, the Official Account of the Ministry of Finance shared, "Union Minister for Finance and Corporate Affairs Smt. @nsitharaman met with a delegation led by Mr. @RothGilles, Minister of Finance of Luxembourg, along with Mr. Christian Biever, Ambassador of Luxembourg to India; Mr. Luc Feller, Senior Government Advisor, Mr. Claude Marx, Director General, CSSF and Mr. Simon Gorbutt, Deputy CEO, Luxembourg for Finance, in New Delhi, today."

Earlier, Gujarat Chief Minister Bhupendra Patel received the Finance Minister of the Grand Duchy of Luxembourg, Gillis Roth, along with his delegation, in Gandhinagar.

Roth highlighted Luxembourg's robust financial sector, which comprises 115 banks, an investment portfolio of 8 trillion euros in asset management, and a presence in investment and financial services across around 80 countries. In this context, he expressed his eagerness to further strengthen financial relations with India, particularly with Gujarat.

Patel said during the discussions of this meeting that Gujarat is a state with prudent financial management under the leadership of Prime Minister Narendra Modi. Not only this, he discussed and deliberated on the benefit of Luxembourg's expertise in the field of green bonds and green financing in this context.

He also requested to explore the possibilities of mutual cooperation to realise the idea of green growth with an environment-friendly lifestyle through renewable-green energy and Mission Life, which was given by the Prime Minister, through municipal green bonds and long-term infrastructure and sustainable development.

Roth said that the MoU signed between IFSCA and Luxembourg's CSSF in GIFT City has strengthened the financial cooperation between India and Luxembourg and has also increased the global financial connectivity of Gujarat. Shri Gilles Roth expressed Luxembourg's eagerness for more investments in the international financing sector in GIFT City.

- ANI

Share this article:

Reader Comments

P
Priya S
Good to see high-level engagements. But I hope these discussions translate into tangible benefits for the common person. Green bonds sound great, but will they make renewable energy more affordable for middle-class families? That's the real test.
R
Rohit P
Luxembourg managing 8 trillion euros! That's mind-boggling. Attracting even a small fraction of that investment into GIFT City can create so many jobs and boost our financial sector. Smart move by FM Sitharaman and CM Patel.
S
Sarah B
As someone working in finance, the IFSCA-CSSF MoU is a big deal. It streamlines regulations and builds trust for European investors. This is how you build a world-class financial center - through strategic partnerships.
V
Vikram M
Focus on Gujarat is understandable, but I hope the benefits of such international cooperation reach other states as well. India's growth needs to be inclusive. Green financing should also support projects in the Northeast and other regions.
K
Kavya N
Municipal green bonds for sustainable infrastructure? This is exactly the kind of innovative thinking we need. Can help our cities develop smarter while being eco-friendly. Hope Pune and Bengaluru also explore such options soon!

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Leave a Comment

Minimum 50 characters 0/50