Climate change may chop off 8.7% from India’s GDP by 2100; ADB
warns
20/08/2014 11:37
The Asian Development Bank (ADB) has warned that climate change can take a severe toll on India’s economy with the country at the risk of suffering economic losses equivalent to nearly 8.7 per cent of its Gross Domestic Product (GDP) by 2100, if the world fails to respond to the problem of climate change.
The Manila-based bank stressed that given that India is largely an agrarian economy, it is deeply at risk from the climate change threat. Change in temperatures and rainfall amid the increased likelihood of floods and droughts due to climate change may have an adverse effect on incomes and lives of India’s rural population that is heavily dependent on agriculture for its livelihood.
"India, one of the largest agrarian economies in the world, is deeply at risk from climate change, and could see economic losses of up to 8.7 per cent of its gross domestic product (GDP) by 2100 if the world fails to respond to a host of climate threats”, ADB said.
The ADB said that India is expected to see economic losses equivalent to 1.8 per cent of annual GDP by the year 2050, which may then balloon to 8.7 per cent by 2100.
“Without changes to current global behavior, India would see economic losses equivalent to 1.8 per cent of annual GDP by 2050, widening to 8.7 per cent by the end of the century”, the ADB said.
“Agriculture provides employment and livelihood opportunities to most of India's rural population and changes in temperature and rainfall, and an increase in floods and droughts linked to climate change, would have a devastating impact on people's food security, incomes, and lives," it added.
20/08/2014 11:37
The Asian Development Bank (ADB) has warned that climate change can take a severe toll on India’s economy with the country at the risk of suffering economic losses equivalent to nearly 8.7 per cent of its Gross Domestic Product (GDP) by 2100, if the world fails to respond to the problem of climate change.
The Manila-based bank stressed that given that India is largely an agrarian economy, it is deeply at risk from the climate change threat. Change in temperatures and rainfall amid the increased likelihood of floods and droughts due to climate change may have an adverse effect on incomes and lives of India’s rural population that is heavily dependent on agriculture for its livelihood.
"India, one of the largest agrarian economies in the world, is deeply at risk from climate change, and could see economic losses of up to 8.7 per cent of its gross domestic product (GDP) by 2100 if the world fails to respond to a host of climate threats”, ADB said.
The ADB said that India is expected to see economic losses equivalent to 1.8 per cent of annual GDP by the year 2050, which may then balloon to 8.7 per cent by 2100.
“Without changes to current global behavior, India would see economic losses equivalent to 1.8 per cent of annual GDP by 2050, widening to 8.7 per cent by the end of the century”, the ADB said.
“Agriculture provides employment and livelihood opportunities to most of India's rural population and changes in temperature and rainfall, and an increase in floods and droughts linked to climate change, would have a devastating impact on people's food security, incomes, and lives," it added.
