India To Require USD 2.4 Tn By 2050 For Climate-Resilient Urban Infrastructure: World Bank

ENA Economy 2025-07-23 15:01:58 New Delhi, July 23 (KNN) India will require an estimated USD 2.4 trillion by 2050 and USD 10.9 trillion by 2070 to meet the infrastructure and service needs of nearly 951 million urban residents, while adapting to the growing challenges posed by climate change, the World Bank said in a report released on Tuesday. The report, titled Towards Resilient and Prosperous Cities in India, was prepared in collaboration with the Ministry of Housing and Urban Affairs. It underscores the urgent need for a national and state-level resilience programme to address the increasing frequency and intensity of climate-induced disasters, such as floods, heatwaves, and rising sea levels. India's urban population is expected to nearly double from 480 million in 2025 to 951 million by 2050, making cities increasingly vulnerable to climate shocks. The World Bank warns that without proactive adaptation measures, Indian cities may face escalating economic and human losses. The report calls for the integration of flood risk management and sustainable stormwater solutions at the city level, alongside heat mitigation strategies. It notes that such investments could increase Indias GDP by up to 0.4 percent and save as many as 130,000 lives annually by mid-century. Crucially, the report highlights that India is yet to build over 50 percent of the urban infrastructure needed by 2050, presenting a rare opportunity to embed resilience into future growth. Retrofitting existing systems, the World Bank cautions, is significantly more costly than building with resilience in mind from the outset. To support this transition, the institution recommends enhancing urban finance mechanisms, encouraging private sector participation, and investing in areas such as resilient housing, modern solid waste management, and flood-resilient urban transport. The report also proposes the formation of a national multisectoral task force, comprising representatives from key central ministries, to coordinate a comprehensive urban resilience programme. This body would assess existing policies across central, state, and municipal levels and identify areas for improvement. Failure to act promptly, the report warns, could result in rising economic damage. It estimates that stormwater flooding alone currently costs 0.5 percent to 2.5 percent of Indias GDP annually, a figure that could double under a high-emissions climate scenario. (KNN Bureau) 42915 https://knnindia.co.in/news/newsdetails/economy/india-to-require-usd-24-tn-by-2050-for-climate-resilient-urban-infrastructure-world-bank 2025-07-23 15:01:58 knnindia.co.in India To Require USD 2.4 Tn By 2050 For Climate-Resilient Urban Infrastructure: World Bank