Gujarat, Luxembourg explore strengthening financial ties, green bonds

Gujarat CM Bhupendra Patel met Luxembourg Finance Minister Gillis Roth to discuss strengthening financial ties. They focused on leveraging Luxembourg's expertise in green bonds and financing for sustainable development and cooperation in GIFT City.

Gujarat CM, Luxembourg FinMin Discuss Financial Cooperation

Gujarat Chief Minister Bhupendra Patel on Thursday 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.

Focus on Green Financing

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.

Pleased to meet Mr. Gilles Roth, Finance Minister of Luxembourg, and his delegation in Gandhinagar. Under the visionary leadership of Hon’ble PM Shri @narendramodi, Gujarat has emerged as a state known for prudent financial management and is steadily advancing towards leadership… pic.twitter.com/4zOdKhaf05 — Bhupendra Patel (@Bhupendrapbjp) February 26, 2026

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.

Strengthening Ties through GIFT City

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.

Future Engagements and Invitations

Patel also invited the Luxembourg delegation to join the Vibrant Gujarat Global Summit to be held in January 2027 and the Vibrant Gujarat Regional Conference of South and Central Gujarat to be held in April 2026 and June 2026.

Luxembourg Finance Minister Shri Gillis Roth extended a cordial invitation to the Chief Minister and the delegation of the Gujarat Government to visit the Grand Duchy of Luxembourg.

Principal Secretary to the Chief Minister Shri Sanjeev Kumar, Industries Commissioner P Swaroop and Additional Principal Secretary to the Chief Minister Vikrant Pandey also participated in this courtesy visit.

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)