India’s government has approved an investment of up to $8 billion in green technologies to boost the country’s economy.
The country is looking at investing up to 8 billion rupees ($8.3 billion) over the next five years, Prime Minister Narendra Modi said on Thursday.
“This will be the first investment in the country in green tech, which will bring huge benefits to the economy,” Modi said at a press conference.
He did not give details on what the investments would be.
Modi announced the investments in his first speech as prime minister on Wednesday.
The investment will be part of a broader plan to boost India’s economy in areas such as infrastructure and agriculture.
He has also announced the creation of an investment bank that will help small and medium-sized businesses.