Thought for the day

Indian Growth likely to Fall Victim to Climate Change


 
Last updated: 5 December 2024
 
India is the third largest country in the world when measured in GDP PPP terms. Furthermore, it is possible that India will overtake the USA within a decade as the world’s second largest economy. However, climate change will likely be a key challenge facing the country over the coming decades. India already has a very high average temperature in comparison with other economically significant countries. Moreover, its average temperature has been rising over recent decades.

Average temperature in the top 5 largest countries by GDP size 1997-2022
Data is ranked on highest average temperature in 2022 in degrees Centigrade
Indian Growth likely to Fall Victim to Climate Change




According to the World Economic Forum, climate change, by the end of this century, could cost India more than 10% of its national income and drag 50 million more people back into poverty. Another recent report projected that South Asia will be one of the most impacted regions globally due to extreme weather caused by climate change. It projects a median income reduction of around 22% in the region – of which India is a major part. Asset valuations are also likely to respond negatively to accumulating evidence of the impact of climate change in India.

 See more on India data...



More perspectives using World Economics data

China's GDP is Likely to Grow to Twice the Size of US GDP
China
South Korea, and Taiwan have achieved GDP per head of around 80% of the US level, starting from very close to poverty. If China can raise GDP per head to just 50%+ of US levels (hardly an impossible task given its record over the last 40 years), it will have a GDP twice that of the US. If China's GDP per capita gets anywhere near those achieved in South Korea, its economy will approach three times the...
Dangerously Misleading Debt Data
Dangerously Misleading Debt Data
Debt poses a serious problem in most developed countries, and in many developing ones. But statistical omission and obfuscation hide the true problem. Rapidly rising numbers of old age dependants plus unfunded pay-as-you-go social security schemes are already causing unrest. More is likely to follow as state backed promises of medical and old age support become impossible to fulfil. The problem is fa...
The Spectacular Trump Jump Continues Through December
The Spectacular Trump Jump Continues Through December
Donald Trump's US Election win had an extraordinary impact on key US Economic Indexes in November, which has largely continued into December. In November, the US Sales Managers Survey recorded a previously unheard of 5.1 Index points increase in Business Confidence. Its sister Index, the Sales Managers Sales Growth Index rose to a near 6 year high in November, jumping an equally unheard of 4.6 Index ...