Nearly 50% of public infrastructure in India is unprepared for disaster management, according to a survey by Coldwell Banker Richard Ellis.
The survey findings were released at a joint 'Infrastructure Management Conference 2024' organised by CBRE and Confederation of Indian Industry here.
On Wednesday, real estate consultant CBRE said as per its survey on select large infrastructure assets on risk management parameters, "nearly 50% of the public infrastructure in India is unprepared for disaster planning and management and needs greater attention".
"India is grappling with a significant increase in both natural and man-made disasters, posing a threat to the economy, population and long-term sustainable development," the consultant said.
The vulnerability to disasters is further exacerbated by a confluence of factors, including changing demographic and socio-economic conditions, unplanned urbanisation, development within high-risk zones, environmental degradation, climate change, and geological hazards, it added.
Anshuman Magazine, Chairman & Chief Executive Officer – India, Southeast Asia, Middle East & Africa, CBRE, said, "Inadequate risk management is a primary cause of the issues we see in infrastructure projects. This leads to direct financial losses, hindered GDP growth, and negative impacts on reputation and society."
While India is progressing towards its next growth mile, backed by a resilient economy and tremendous infrastructural development, he said, adding that it is extremely crucial to take a proactive stance to unlock a future that is sustainable.
"As infrastructure will continue to be the key growth driver, it is imperative to adopt practices that are innovative, agile, and futuristic. A clear roadmap that takes us towards this goal with precision and swiftness," Magazine said.
This also brings to the fore the importance of robust infrastructure management practices and the crucial role facilities management plays in building a sustainable and resilient future, he added.
CBRE pointed out that escalating frequency and intensity of disasters have far-reaching consequences for India.
"Floods, extreme temperatures, and cyclones have become more common and severe, causing widespread damage to infrastructure, loss of lives, and disruption of livelihoods," the consultant said.
Moreover, the country is increasingly exposed to man-made risks such as industrial accidents, cyberattacks, and public health emergencies, it added.
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