Impact of Global Warming on Indian Economy

Over the period of last two decades more attention has been given to global warming, and the only and vital reason is the increase in the Earth's temperature that is an alarming issue for the survival of life on Earth. Our nation is may be a long way from melting polar ice caps, but the impact of climate change will affect the economy unfavourably on account of climate change. As per a study by Lehman Brothers the GDP of India would dip by 5% for each two degree temperature rise. India is one of the fastest growing economies and the third largest pollution emitting country in the world, but has always held the responsibility of climate change on developed countries for their historical emissions. According to the Global Climate Risk Index of 2018, published by German Watch, a non-profit performing various operations on North-South equity and preservation of livelihoods, India is at 12th most endangered nation in terms of climate change impacts. Annually, it observes an average of 3,570 deaths due to climate-related events, and the expenditure of climate change impact it will pay is estimated to run into trillions of dollars in the upcoming times. Therefore, present paper will focus on alarming situation raised by global warming and its impact on Indian economy. Further paper explores what India is doing to curb the situation and what ought to be.