Lucknow: The United Nations Development Program (UNDP) and Invest India has launched a Sustainable Development Goals (SDG) Investor Map for India, laying out 18 Investment Opportunity Areas (IOAs) in six SDG enabling sectors, aimed at aiding India’s journey at fulfilling the goals at a time when Covid-19 pandemic has caused a large scale disruption in countries’ plans to realise them.
Due to Covid-19, the SDG financing gap has widened by an estimated $400 billion in developing countries, adding to the pre-COVID shortfall of $2-2.5 trillion per annum.
The SDG Investor Map thus maps the overlaps and gaps between public sector priorities and private sector interest, aiming to bridge the gap between private-sector investment and public sector support for 6 SDG-enabling sectors that include education, healthcare, agriculture and allied activities, financial services, renewable energy & alternatives and sustainable environment.
“India occupies a key role in determining the success of the SDGs, globally. Invest India is pleased to have partnered with UNDP India to develop the first-ever ‘SDG Investor Map for India’. This initiative is an instrumental stride in India’s development trajectory, and I believe it couldn’t have come at a better time. We hope our data-backed research and insights serve as useful blueprints to understand how best the SDG financing gap can be narrowed in India”, Deepak Bagla, CEO & MD, Invest India, said in a press note.
83% of the identified IOAs address job creation and industrialization needs, 70% focus on inclusive business models and 50% leverage digital technologies to deliver commercial returns and impact at scale. Notable IOAs include ‘Online Supplementary Education for K12’ (Education), ‘Tech-Enabled Remote Care Services’ (Healthcare), ‘Digital Platforms to service input/output needs of farmers to enable easy access to markets’ (Agriculture) and ‘Access to credit by Micro, Small and Medium Enterprises and Low-Income Groups especially through digital platforms for Income Generating Purposes’ (Financial Services).
“The Map comes at a critical time for India. With the emergence of the COVID-19 pandemic, the financing gap for the SDGs in India has only widened further and decades of development progress is nearly on the verge of reversal. Investing in the SDGs at this point is crucial to ‘Building Back Better’ and making the economy and our societies more resilient and sustainable. Enhanced productivity, technology adoption and increased inclusion are all critical factors that this map uses to identify the most attractive sectors for investors,” Shoko Noda, Resident Representative, UNDP India.
Source: New On News