Indian Cities Need $2.4 Trillion for Climate Infra: World Bank

INDIA REQUIRES INVESTMENTS of over $2.4 trillion by 2050 to meet the need for new, resilient, and low-carbon infrastructure and services in cities, the World Bank said in a report on Tuesday.

- PRASANTA SAHU

The private sector's role will be critical in meeting these investments, the multilateral bank said in a report titled 'Towards Resilient and Prosperous Cities in India'.

With India's urban population expected to almost double by 2050 to 951 million, more than 144 million new homes will be needed by 2070, it said.

The report, which studied 24 Indian cities, with a special focus on Chennai, Indore, New Delhi, Lucknow, Surat and Thiruvananthapuram, found that timely adaptation can avert billions of dollars of annual losses from future weather-related shocks.