As per a report published by the Deloitte Economics Institute, India stands to lose to the tune of $35 trillion in the next 50 years if it does not reduce its dependence on fossil fuels. Inaction on climate change will lead to loss in India’s economic potential by 5.5% each year on an average for the next half century.
This economic loss would be distributed across several sectors and will account for almost 12.7% of India’s GDP. The five sectors that will get hit the most include, services, retail and tourism, manufacturing, construction and conventional energy industry. These account for more than 80% of India’s total GDP.
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Tags/Keywords: India, economic, climate, fossil
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