India requires 170 billion dollars per year to fulfill sustainable development goals: AVPN CEO 

India has progressed towards meeting sustainable development goals but there is considerable ground to be covered, particularly across domains like health and education.

Published: 28th November 2022 07:25 PM  |   Last Updated: 28th November 2022 08:53 PM   |  A+A-

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Express News Service

NEW DELHI: India alone requires 170 billion dollars per year from 2015-2030 to fulfil the Sustainable Development Goals(SDG) , as per an estimation carried out by Nationally Determined Contributions, a body set up after Paris Agreement, 2015, to monitor the efforts of signatory countries towards reducing national emissions and adapting to climate change, the chief of Asian Venture Philanthropy Network (AVPN), a Singapore-based funders' network for impact investing, told The New Indian Express. India can play a leading role in efforts to bridge the gap in funding for achieving UN SDGs, Naina Subberwal Batra, CEO of AVPN said. 

“There is currently, a serious gap in funding for development work in developing countries. According to data from the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), at the current rate of progress, Asia is likely to achieve the SDGs in 2065, 35 years after the 2030 target. This translates to about a USD 15 trillion estimated annual investment gap in the APAC alone,” Batra stated.

"India can leverage the G20 presidency to explore further blended financing opportunities with the member states to work towards bridging development finance gaps. The G20 presidency and the related commitments made by India should also provide an impetus to social entrepreneurship," Batra said.
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India has progressed towards meeting sustainable development goals but there is considerable ground to be covered, particularly across domains like health and education. Initiatives like successful mass vaccination taken during the peak of the pandemic, and the resultant buoyancy in the Indian economy have raised experts’ hopes of India leading broad-based recovery.

"India’s commitment to the SDGs is reflected in its convergence with the national development agenda as reflected in the motto of Sabka Saath Sabka Vikaas. Based on the evidence from the SDG India Index, which measures progress at the subnational level, the country has developed a robust SDG localization model centred on adoption, implementation and monitoring at the State and district levels," Batra further added.

But India continues to face challenges on the road to sustainable development. Last year, India slipped two places to rank 117 among all nations in addressing SDGs. The country has considerable ground to cover on infant and maternal mortality, livelihood creation and preservation and greening the economy.

As the Indian and global economy battle the long tail of the pandemic and the stresses it has induced, budgets remain stretched, according to Batra.

"The government can explore blended financing mechanisms and integrate market-based approaches to give more choices to citizens and reduce out of pocket expenditures towards social development," Batra said. 


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