The green energy transition fund will help India's ambitious goals of renewable energy generation, said Union minister of commerce and industry Piyush Goyal. He was representing India at the announcement of the US-India Green Transition Fund in the US.

The fund will be jointly-managed by the US Development Finance Corporation (DFC) and India's National & Infrastructure Fund (NIIF). Goyal, while attending the Aisa-Pacific Economic Cooperation (APEC) leaders' meeting 2023, also met US President Joe Biden at the welcome reception, and met with US Treasury Secretary Janet Yellen and Japan's PM Fumio Kishida on the sidelines,

Speaking at the Informal Dialogue of Leaders’ of APEC on Sustainability, Climate, and Just Energy Transitions, where India was invited as a guest economy, Goyal highlighted the country's work towards environment preservation and urged for a collective effort through sharing of best practices, investment in research and development and financial and technological support for developing countries.

While Goyal met leaders from the Indo-Pacific and the doyens of global finance at the Partnership for Global Infrastructure Investment (PGII), IPEF Investment Forum, he also held a meeting with Peru's minister of foreign trade and tourism Juan Carlos Mathews to discuss the progress of the Free Trade Agreement (FTA) negotiations between both countries.

Among his meetings with the industry, he met the co-CEO of KKR Joseph Bae, founder & former Chairman of Taiwan Semiconductor Manufacturing Company (TSMC) Morris Chang and the CEO of the US International Development Finance Corporation Scott Nathan to discuss avenues to expand investments in key sectors in India. He also met Alex Rogers, President at Qualcomm Technology Licensing & Global Affairs, to discuss opportunities for collaboration in the semiconductors ecosystem.

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(Edited by : Shloka Badkar)