Measures to combat corrosion could increase India’s GDP by 1.5%
India loses an estimated 4. 3% of its GDP each year—or around Rs 14. 1 trillion—due to corrosion, and implementing improved corrosion management practices may raise GDP by roughly 1. 5%, or Rs 5 trillion.
According to the Nomura Research Institute (NRI), the risks of corrosion have increased due to rapid infrastructure development, urbanization, and industrial growth.
It has increased maintenance expenses and decreased the lifespan of assets in every industry, with infrastructure, transportation, electricity, and telecommunications being the most impacted.
The business said that corrosion caused an average loss of 3. 4% of GDP worldwide.
The corporation suggested shifting the focus of public infrastructure tender bids to life cycle cost analysis rather than focusing solely on upfront construction costs.
It advocated strengthening Bureau of Indian Standards (BIS) regulations to comply with international durability standards and include exposure-based durability criteria.
It proposed implementing modern testing methods, upgrading maintenance and inspection procedures for assets with extended lifespans, and incorporating corrosion-resistant materials in sectors that are vulnerable to severe environmental factors, such as infrastructure for renewable energy.
Another important proposal was to mandate increased corrosion protection for steel-intensive industries like transportation, telecommunications, and public infrastructure.
India should prioritise asset endurance as it increases spending in roads, railroads, housing, and renewable energy, the report said, adding that corrosion is a policy and economic problem, not just an engineering one.
The power generation and transmission industry was identified as having the greatest corrosion intensity, with estimated losses of 10. 1% of sectoral GDP.
The report recommended long-term protection systems in addition to periodic repainting, and yearly corrosion-related losses in railways were estimated at $3 billion.
The telecom industry experiences significant corrosion intensity due to its over 8. 13 lakh telecom towers that support 2. 948 million base transceiver stations in India.
Additionally, the study stated that engineering standards and maintenance procedures must advance in tandem with India’s growing infrastructure base.