India’s climate spending rises to 5.6% of GDP, Sitharaman says at Munich

India has significantly boosted climate action spending, now at nearly 5.6% of GDP, up from 3.7% six years ago, demonstrating strong domestic commitment. Finance Minister Nirmala Sitharaman emphasized the need for adaptation alongside emission cuts and advocated for a “polluter pays” principle in global climate finance, highlighting India’s own substantial investments in renewables and carbon capture.