Indian cities are staring down a staggering $2.4 trillion price tag by 2050 to combat escalating floods, heatwaves, and climate risks, according to a bombshell World Bank report released Tuesday. The report, Towards Resilient and Prosperous Cities in India, crafted with the Ministry of Housing and Urban Affairs, warns that without urgent action, urban centers like Delhi, Chennai, Surat, and Lucknow face catastrophic losses from flooding and extreme heat.

The report projects annual economic losses from rain-related flooding to surge from $4 billion today to $5 billion by 2030 and up to $30 billion by 2070 if no steps are taken. Urban expansion into flood-prone and heat-vulnerable areas is fueling the crisis, with heat stress in India’s 10 largest cities spiking 71% between 1983 and 2016. By 2050, heat-related deaths could soar from 144,000 to over 328,000 annually, with 20% of working hours lost to extreme heat.

“India’s urban population, expected to hit 1.1 billion by 2070, will need 144 million new homes, doubling the current housing stock,” the report states. To tackle this, investments must skyrocket to $10.9 trillion by 2070 for resilient infrastructure in housing, transport, waste management, and municipal services. Current spending, at just 0.7% of GDP, falls woefully short compared to global standards.

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“Timely action is critical to avert billions in losses,” said Auguste Tano Kouame, World Bank Country Director for India. The report urges tapping private sector funds through green bonds and international climate financing, alongside empowering urban local bodies. A $150 billion investment over 15 years could enable 60% of cities to implement flood mitigation. With 70% of new jobs expected from cities by 2030, India’s urban future hangs in the balance—act now or face climate catastrophe.

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