India is witnessing one of the largest urban growth spurts in human history. Since 1970, the subcontinent's urban population has increased almost fivefold. Today's 500 million urban inhabitants are expected to be augmented by another 400 million by 2050. Conventional municipal finances are not up to this dynamic. At the Urban CoP Launch Conference of the Ministry of Housing and Urban Affairs, Government of India, Michael Thöne presents international good practice in urban finance. In addition to strong own revenues in user charges, new local taxes and green bonds, there is also a need for reliable vertical tax shares and fiscal equalisation transfers to cope with India's rapid urban growth.