State Bank of India (SBI) has launched ‘CHAKRA’ a Centre of Excellence (CoE) aimed at financing sunrise sectors critical to India’s economic transformation.
The Centre will function as a knowledge-driven platform to facilitate funding for next-generation, technology-led and sustainability-focused industries. The Centre was inaugurated by M. Nagaraju, Secretary, Department of Financial Services, in the presence of SBI Chairman Challa Sreenivasulu Setty in Mumbai.
Mr Nagaraju stated that Centre’s vision of creating a coordinated ecosystem for knowledge-sharing, project appraisal, capacity building and evidence-based policy engagement would significantly accelerate India’s journey towards Viksit Bharat 2047.
CHAKRA will focus on eight sunrise sectors renewable energy, advanced cell chemistry and battery storage, electric mobility, green hydrogen, semiconductors, decarbonisation, smart infrastructure and data centre infrastructure which are emerging as key drivers of India’s economic future. These sectors are expected to attract capital investments of over 100 lakh crore rupees by 2030, with the Centre working to facilitate and enable this scale of investment.
