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State Bank of India (SBI), on Monday, took a step towards financing for the next-generation growth sectors with the launch of 'CHAKRA,' a Centre of Excellence (CoE) dedicated to sunrise industries. The initiative aims to power financing for sectors critical to India's economic transformation and its strategic goal of becoming a 'Viksit Bharat' by 2047.
As per an SBI release, these sunrise sectors are projected to attract capital expenditure of approximately Rs 100 lakh crore by the year 2030. The newly established Centre will function as a knowledge-led platform to facilitate financing for technology-driven and sustainability-focused industries. SBI intends to direct capital flows into these capital-intensive areas by strengthening its risk assessment capabilities and designing innovative financing structures that align with evolving business models. The focus of the Centre encompasses eight specific sunrise sectors: Renewable Energy, Advanced Cell Chemistry and Battery Storage, Electric Mobility, Green Hydrogen, Semiconductors, Decarbonisation, Smart Infrastructure, and Data Centre Infrastructure. During the inauguration, M. Nagaraju, Secretary, Department of Financial Services, described the initiative as a "coordinated ecosystem platform." He stated, "The CHAKRA Centre of Excellence is a commendable initiative by State Bank of India. The vision of the Centre to become a coordinated ecosystem platform covering knowledge-sharing, project appraisal, capacity building, and evidence-based policy engagement will meaningfully accelerate India's progress towards Viksit Bharat 2047." The bank plans to use the Centre to drive outcomes through the publication of white papers, sector reports, and the hosting of industry roundtables. These efforts are designed to support informed decision-making for investors and policymakers alike. This initiative builds upon the bank's existing institutional framework, following its previous establishment of a Centre of Excellence for MSMEs. Emphasising the bank's role in the national economy, Challa Sreenivasulu Setty, Chairman, State Bank of India, said, "India's growth over the coming decades will be anchored in innovation, sustainability and advanced manufacturing. With CHAKRA, SBI is strengthening its institutional capability to understand emerging sectors, design specialised financing solutions and partner with the ecosystem to enable projects that meaningfully contribute to the nation's development journey. The Centre of Excellence reinforces SBI's leadership in new-age technologies and climate finance, enhancing India's integration into the global value chain, and accelerating progress toward Viksit Bharat 2047." CHAKRA will facilitate structured engagements with development finance institutions, multilateral agencies, and start-ups to improve the flow of capital toward India's sustainable future. By focusing on these eight key drivers, the bank seeks to build the necessary institutional capacity to manage the massive investments expected over the next decade. (ANI)
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