Corrosion Protection Could Boost India's GDP by Up to 1.5%

Corrosion Protection Could Boost India's GDP by Up to 1.5%

India loses an estimated ₹14 lakh crore, or 4.3% of GDP, every year to corrosion-induced damage, according to a Nomura report. The report estimates that better corrosion protection could lift India's GDP by up to 1.5%. The biggest impact is on the power generation and transmission sector, followed by telecommunications, automotive, and industrial assets. The report highlights the significant economic losses due to corrosion-induced damage, which includes premature deterioration of bridges, highways, railways, ports, and power infrastructure. The report suggests that improving corrosion protection could have a significant impact on India's economy.