Nomura Research Institute says corrosion costs India ₹14.1 trillion annually
Turns out, corrosion is quietly draining India's wallet: ₹14.1 trillion (about $180 billion) vanishes each year because of it, which is a much bigger chunk of the economy than the global average.
The Nomura Research Institute (NRI) report suggests that if India follows global best practices to fight corrosion, it could save nearly $63 billion, or about ₹5 trillion annually, and give the GDP a nice 1.5% boost.
Power sector loses 10.1% sectoral GDP
The power sector loses 10.1% of its sectoral GDP to corrosion, ouch!
Indian Railways isn't far behind, with yearly losses around ₹23,788 crore ($3 billion).
The telecom sector also faces risks with its massive network of towers and stations.
The report recommends smarter maintenance, tougher standards for materials, and modern testing to help these sectors save money and keep things running smoothly.