India needs USD 2.64 tln investment to meet SDGs by 2030: Report
According to the Standard Chartered SDG Investment Map, the total investment that the country needs to make by 2030 is a whopping USD 2,633.9 billion. Of the total, USD 1,558.8 billion is for clean energy, USD 505.5 billion for transport infrastructure, USD 377.4 billion for digital access; and USD 192.2 billion for clean water and sanitation.
Of the total USD 2.64 trillion of investment needed, the potential investment opportunity for the private sector is a whopping USD 1.12 trillion with USD 701.5 billion going into clean energy, USD 226.5 billion for digital access, USD 176.9 billion in transport infrastructure, and USD 19.2 billion for clean water and sanitation, said the report.For the emerging markets as a whole, the opportunity for the private sector is around USD 10 trillion, said the report adding that "India represents USD 1.124 trillion of SDG opportunity, or more than 10 per cent of the USD 9.668 trillion opportunity for private sector investors across all emerging markets to help achieve the UN goals." Advertisement
At USD 701.5 billion, the greatest private sector opportunity in the country is investment in achieving and maintaining universal access to electricity, which is the seventh SDG.
The study identified opportunities for the private sector to contribute to three infrastructure-focused goals between now and 2030 - SDG 6: Clean water and sanitation, SDG 7: Affordable and clean energy, and SDG 9: Industry, innovation and infrastructure.Seven per cent of the country's population still do not have access to electricity.
The opportunity in the water and sanitation is USD 19.2 billion as 24 per cent of the people still do not have access to clean water and sanitation and closing this gap by 2030 will require investment of close to USD 20 billion, said the report.The SDG 9 calls for improvement in industry, innovation and infrastructure by 2030 wherein private sector can chip into transport and digital areas which requires an investment of around USD 226.5 billion. Of the total, transport infrastructure alone will need USD 176.9 billion of investment. The present digital access is only 45 per cent. "Opportunity 2030 provides an important map of the SDG opportunities for private sector investors looking to invest with impact and improve the lives of millions of Indians over the next decade," Bharat Padmanabhan of StanChart said. Advertisement
The Opportunity 2030 study spans 15 of the world's fastest-growing economies and estimates the potential private-sector investment opportunity to contribute to three of the most investment-ready SDGs (6,7 and 9). BEN HRS
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