Invest India received the top UN Investment Promotion Award in recognition of its efforts to boost investments in the renewable energy sector in India.
The award was presented on Monday in Geneva at the inauguration of the World Investment Forum organised by the UN Convention on Trade and Development (UNCTAD).
“The award recognizes the excellence in boosting investment into sectors that will have social and economic benefits and help countries meet the Sustainable Development Goals (SDGs),” said UNCTAD.
“Judges gave Invest India the award for its fineness in servicing and supporting a major global wind turbines company in the establishment of a blade manufacturing plant in India while committing to train local staff and produce 1 gigawatt of renewable energy. Implementation of the project is anticipated to reduce India’s wind energy cost significantly,” UNCTAD added.
Bahrain Economic Development Board and the Lesotho National Development Corp were the other award winners.