Germany Announces €1 Billion Investment For Green Urban Mobility Sector In India

In a major shot in the arm for the quickly evolving green and electric mobility ecosystem of India, Germany will be investing a whopping sum of €1 billion to aid and fasten the growth of the sector in the nation over the course of next five years, reports The Hindu.

The commitment in the regard was made by German Chancellor Angela Merkel who recently returned back to Germany from a successful visit to India which witnessed the signing of a host of crucial agreements including the one concerning green and electric mobility in the urban pockets of India.

Of the €1 billion investment, a major share of €200 million will be channelled by Germany into reforming the bus transport sector in the southern State of Tamil Nadu. She also pushed for India to supplant diesel-run buses with electric buses.

The push from Chancellor Merkel for India to fasten the adoption of electric buses came in the context of the ongoing pollution crisis in the national capital of Delhi, where the Supreme Court-mandated EPCA has declared the imposition of a national health emergency as pollution levels have peaked beyond 'severe plus' category.

Ms. Merkel also said that Germany would also like to work with India on various segments including healthcare, agriculture and artificial intelligence.