Why is it in the news?
→ State Bank of India launched ‘CHAKRA’ to finance sunrise sectors critical to India’s economic transformation.
→ The CoE aims to enable large-scale capital investment and support technology-led, sustainability-focused industries.
Category: Economy
Important Points
- Launched by State Bank of India (SBI).
- Designed to finance sunrise sectors critical to India’s economic transformation.
- Functions as a knowledge-driven platform for next-generation, technology-led and sustainability-focused industries.
- Focuses on eight sunrise sectors.
- Listed sectors include Renewables, Data Centres, E-Mobility & Charging Infrastructure, Advanced Cell Chemistry/Battery, Semiconductors, Green Hydrogen & Ammonia, Decarbonization, and Smart Infrastructure.
- By 2030, the eight sectors are expected to unlock cumulative capex of over INR 100 lakh crore.
- Aims to enhance India’s integration into the global value chain and accelerate Net Zero goals.
- Will drive technology and AI innovation.
- Provides advisory support to SBI’s Project Finance & Structuring team and the broader financial ecosystem.
- Facilitates engagement with policymakers, regulators, DFIs, multilateral agencies, banks, NBFCs, industry bodies, corporates, start-ups, academia, and policy think tanks.