According to Nomura’s report, the country’s economy is suffering a loss of more than Rs 14 lakh crore due to the war.
The rust on the country’s infrastructure is hollowing out the country’s economy. According to the report, due to this war, the country’s economy is suffering a loss of several lakh crores of rupees every year. According to a report by Nomura, India suffers an estimated loss of Rs 14 lakh crore i.e. 4.3 percent of GDP every year due to corrosion. Bridges, highways, railways, ports, power infrastructure, buildings and industrial assets wear out prematurely. According to ET report, Naumura’s report has estimated that its biggest impact is on the power generation and transmission sectors, followed by telecom, automotive, infrastructure and railways.
Defense can increase GDP by 1.5 percent
The report said that higher-than-average corrosion costs in India and the higher risk of corrosion highlight a growing macro-economic risk, which is likely to have a significant negative impact on GDP in the future. It also says that effective measures to prevent corrosion can increase GDP by 1.5 percent. According to the report, corrosion increases government expenditure on maintaining and replacing infrastructure, reduces the productivity of national assets, burdens the government treasury and affects public safety, sustainability and resource efficiency. The report puts the annual loss at 4.3% of GDP and says that it is very important to follow global standards.
What do the statistics say?
Comparison with America and Japan
Citing the example of America and Japan, the report says that many developed countries categorize infrastructure on the basis of exposure to the environment and suggest measures to prevent corrosion. In contrast, India follows largely similar rules even under different climatic conditions. This is especially important during the monsoon, when humid and salinity conditions accelerate the deterioration of infrastructure, the report said. It recommends mandatory corrosion prevention measures, ensuring strict enforcement and compliance of rules, and greater awareness to improve the strength and safety of infrastructure. It said that it is very important to align Indian standards with global standards to ensure that best practices are followed for strengthening long-term assets in India.
BIS rules
Although Bureau of Indian Standards (BIS) regulations mandate corrosion protection and specify methods such as inhibitors and coatings, they do not specify which technologies – such as zinc coating, epoxy coating, hot-dip galvanization or weathering steel – should be used in specific circumstances. This gives contractors the freedom to adopt only the minimum requirements. Roads and bridges, especially in corrosion-prone and high-traffic areas, are exposed to water, pollution and heavy loads, which accelerates their deterioration.
