Forging Global Alliances: India's Path to Strengthening SDG Bonds for a Sustainable Future
Introduction : As the world races to achieve the Sustainable Development Goals (SDGs) by 2030, innovative financial mechanisms like SDG bonds are emerging as critical tools. While India has made strides in green and social bonds, the road to becoming a global leader in SDG financing requires fostering alliances with top countries, G20 nations, ASEAN, Latin America, and fragile economies. Collaborations of this scale can unlock resources, share expertise, and drive equitable development on a global scale. India spends 8.3% of its GDP on social sector initiatives, which include sustainable development .However, India's spending falls short of the estimated 13% of GDP** required to meet the UN SDG commitments Allocates 8.3% of GDP to social sectors, including SDGs. However, due to its large population of over 1.4 billion, this translates to only $600-$700 per capita annually . In comparison , Europe : Europe spends appro...