India's Cities Need $2.4 Trillion by 2050, but Municipal Corporations Have Raised Only a Fraction: Report
Key Takeaways
- •India’s cities are projected to need about $2.4 trillion in investment by 2050 for climate resilience and low-carbon development.
- •Municipal corporations have mobilised only a fraction of the funding required so far.
- •The report identifies a major financing gap as a central challenge for urban centres across India.
- •FICCI and EY jointly released the report on Tuesday.
- •The scale of future investment needs reflects rising urban population pressures and infrastructure requirements.
India's cities will need an estimated $2.4 trillion in investment by 2050 to become climate-resilient and low-carbon, but municipal corporations have mobilised only a fraction of that amount so far, according to a joint report released by FICCI and EY on Tuesday.
The report said the funding gap remains a major challenge as urban centres across India prepare for the infrastructure and climate demands expected over the coming decades. It said cities will require large-scale investment to support climate resilience and lower-carbon development, underscoring the scale of financing that local bodies will need to tap as urban populations and infrastructure pressures continue to grow.
The report was released by the Federation of Indian Chambers of Commerce and Industry (FICCI) and EY.
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