India's GDP likely to decline 24.7% from climate change

By 2070, climate change could result in significant economic setbacks across Asia and the Pacific, with estimated GDP losses of up to 16.9% in the region. India, in particular, may see a 24.7% drop in GDP, largely due to rising sea levels and decreasing labor productivity. These issues are  likely to affect low-income and fragile economies the hardest, adding to their existing challenges and widening economic inequalities. The impacts of rising sea levels and reduced productivity will add extra pressure to these vulnerable regions, making it harder for them to keep pace with stronger economies. Such effects could deepen existing economic gaps, as these nations struggle with limited resources to address the mounting impacts of climate change,noted experts.
According to the “Asia-Pacific Climate Report, recently published by Asian Development Bank (ADB) various environmental threats, including coastal flooding that could affect over 110 million people annually and inflict damage worth 1.3 trillion  dollars on coastal infrastructure by 2070. ADB President Masatsugu Asakawa highlighted the urgency of coordinated climate action to mitigate these impacts, calling on governments to adopt both adaptation measures and policies aimed at reducing greenhouse gas emissions.
The report also shows that Asia's contribution to global greenhouse emissions has surged, rising from 29.4% in 2000 to nearly 46% in 2021. This increase, largely driven by rapid economic development in countries like China, has made the region particularly vulnerable to intensified tropical storms, heatwaves, and flooding, all exacerbated by climate change. The report predicts that countries with significant coastal or deltaic areas—such as Bangladesh, Vietnam, and India—will face heightened risks, with GDP losses of up to 8.2% due to riverine flooding in some areas.
The regions most vulnerable to economic losses from climate change include Bangladesh (30.5%), Vietnam, and Indonesia, with India projected to experience a 24.7% reduction in GDP. Other areas facing significant declines include Southeast Asia (23.4%), higher-income Southeast Asia (22%), Pakistan (21.1%), and the Pacific region (18.6%),stated report. These projections highlight the substantial economic threats that climate change poses, particularly to lower-income and fragile economies.
Additionally, reduced labor productivity is estimated to account for a 4.9% loss in GDP across the region, disproportionately impacting tropical and subtropical areas, including 11.9% losses for "the rest of Southeast Asia," 11.6% for India, and 10.4% for Pakistan.

( Business Correspondent)