The writer is the founder and chief executive of AlphaGeo and author of ‘The Future is Asian’
The November COP29 summit ended predictably: a last-minute, watered-down commitment to support developing countries in their urgent climate adaptation efforts was delivered. India’s delegate then led the equally predictable outcry with a fiery diatribe against the paltry sums promised. India is right to worry: it is facing a combustible mix of climate volatility and demographic vulnerability from being an overpopulated poor country.
There is a widespread consensus that India will be the world’s fastest-growing large economy for the next decade and perhaps beyond. The World Bank recently upped its growth forecast for the country from 6.6 per cent to 7 per cent in the fiscal year to next March 31. Yet India still faces major economic headwinds such as slow structural reforms, trade barriers, too heavy banking sector regulation and high youth unemployment.