‘EU-India trade talks reinforce long-term confidence’
NEW DELHI: The ongoing trade negotiations between the EU and India, and New Delhi’s openness to deepening economic partnerships, reinforce confidence that there is significant scope for long-term cooperation, a top European Investment Bank (EIB) official has said but called for accelerating approvals and providing a level-playing field for global investors.“Despite the current geopolitical uncertainties in South Asia, India stands out as a country of remarkable resilience and opportunity,” Nicola Beer, vice president of the European Investment Bank (EIB) told TOI during her visit to India, during which she unveiled a string of investments from upgrading water infrastructure in Uttarakhand to metro projects in Nagpur and Pune to strengthening participation in the India Transition Fund. “For EIB, which has committed over 5.6 billion euro to India in last 20 years with more than 90% dedicated to climate action, this means India remains a highly attractive destination for investment, particularly in sectors that align with both India’s and Europe’s priorities,” said Beer. EIB is one of the world’s largest multilateral banks.She said sustainable transport is leading EIB investment in India and EIB has signed 3.6 billion euro in loans for metro projects in the country, making India the largest recipient of EIB urban mobility financing outside the EU, with metro projects in cities like Agra, Bengaluru, Pune, Nagpur, Lucknow, Bhopal and Kanpur.“Energy transition is another key area, especially renewables, energy efficiency, and grid infrastructure,” Beer said when asked about the priority sector for EIB. “These sectors not only address India’s development needs but also create opportunities for technology and investment flows between India and the EU,” said Beer.She cited the $60 million commitment to the India Energy Transition Fund, managed by EAAA Alternatives, as an example of engaging with the private sector.Beer said this fund is designed to channel equity and “last mile” financing into greenfield infrastructure and growth-stage companies, accelerating projects in renewables, energy efficiency and clean mobility.“The fund is expected to mobilise significant additional private capital, including from leading European institutional investors, and to foster innovation in areas like battery storage and circular economy.” She said while the opportunities are significant, there are still some barriers to greater European investment in India.
