The world is facing a climate crisis, and developing nations are bearing the brunt of its consequences. To help these countries adapt and mitigate the effects of climate change, a global commitment was made in 2009: developed nations would provide $100 billion in climate finance annually by 2020. However, this promise has largely gone unfulfilled.

India outshines developed nations in climate funding

D.P. Singh, Deputy Managing Director and Joint CEO, SBI Mutual Fund shares his perspective on the various factors that will surely make India a developed country by 2047.

More companies are entering the public domain | D.P. Singh

According to a groundbreaking research paper by the reserve bank of India, the country aims to achieve developed nation status by 2047. To achieve this, India must maintain an astounding annual growth rate of 7.6%. The current per capita income stands at $2,500, but to meet the high-income country criteria set by the world bank, India must soar to more than $21,664 by 2047.

India needs 7.6% growth to achieve developed status

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