India plans Rs 24,000 cr sovereign green bond as economy goes low carbon

India is the world's third-biggest emitter of greenhouse gases and plans to more than quadruple its renewable power generation capacity by 2030.

India will issue at least 240 billion rupees ($3.3 billion) in sovereign green bonds as the country marks a shift towards a low-carbon economy, according to officials with knowledge of the matter.

The debut sale may take place in the first half of the fiscal year that starts on April 1, and a decision to sell more green debt will depend on the response to the initial issuance, the people said, requesting not to be identified as the information is private, said.

A finance ministry spokesman was not immediately available for a comment.

The South Asian country’s maiden foray into