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Corrosion Drains ₹14 Lakh Crore from Economy
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India loses an estimated ₹14 lakh crore, or 4.3% of GDP, every year to corrosion-induced damage as bridges, highways, railways, ports, power infrastructure, buildings, and industrial assets deteriorate prematurely.
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Corrosion Drains ₹14 Lakh Crore from Economy
India loses an estimated ₹14 lakh crore, or 4.3% of GDP, every year to corrosion-induced damage as bridges, highways, railways, ports, power infrastructure, buildings, and industrial assets deteriorate prematurely, according to a Nomura report. The report estimates the biggest impact is on the power generation and transmission sector, followed by telecommunications, automotive, infrastructure, and railways. The economic losses due to corrosion are significant, and the government needs to take proactive measures to prevent and mitigate these losses.
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