Mumbai: "The latest Economic Survey has laid out an ambitious decadal roadmap for Sustainable Development in India, dedicating nearly 38 pages to the theme of “Growth with Resilience” — a framework that seeks to align economic expansion with climate responsibility and long-term resilience," said economy expert, Ninad Zare.
Survey’s core message
The Survey’s broader message aligns closely with this view: India’s path to becoming a developed nation by 2047 will not be shaped by choosing between growth and climate action, but by integrating the two into a coherent, resilience-driven development model.
Zare added that at a time when climate action is increasingly shaped by geopolitical tensions and uneven global commitment, the Survey delivers a sharp message: many developed countries are backtracking on their historical responsibilities, even as they expect developing economies to accelerate their transitions without adequate financial and technological support.
Development is not the enemy of climate action
Experts say that the document argues that India’s climate strategy must be rooted in its development priorities — poverty reduction, employment generation, infrastructure expansion, and energy security. It frames economic growth not as a threat to climate action, but as a key enabler of resilience. “Development is not the enemy of climate action; it is an essential part of adaptation,” the Survey notes, underscoring that stronger economies are better equipped to absorb climate shocks.
The Survey’s central idea of “Growth with Resilience” calls for a pragmatic, sequenced approach to climate action. Rather than abrupt transitions, it advocates building institutional capacity, investing in climate-resilient infrastructure, scaling renewable energy alongside grid stability and storage, and embedding adaptation into development planning. By dedicating a substantial section to sustainable development over the coming decade, the Survey signals that climate policy is no longer a peripheral issue but a core pillar of India’s economic strategy.
Climate adaptation must be Central to development
The emphasis on locally grounded climate action has also found resonance among urban policy leaders. Shishir Joshi, Founder and CEO of Project Mumbai and Convenor of Mumbai Climate Week, said India’s economic future is deeply intertwined with the resilience of its cities.
“India’s growth story is inextricably linked to its urban centres, which contribute most of our GDP. To sustain this economic momentum, climate adaptation cannot be an afterthought; it must be central to our development,” Joshi said.
He stressed that climate solutions must be locally designed, noting that the needs of a coastal megacity like Mumbai are vastly different from those of cities such as Patna or Bengaluru. According to him, Budget 2026 presents an opportunity to shift from prescriptive schemes to flexible, outcome-based finance, enabling cities to improve air quality, ensure water security and upgrade infrastructure in ways suited to their specific contexts.
Mumbai Climate Week
“For the private sector, this is critical because it de-risks investment and opens the door for green bonds and blended finance to flow into urban infrastructure. The fiscal instruments already exist; what is needed now is a framework that gives confidence that well-performing cities will be recognised and supported over time,” he said.
Joshi added that as preparations build for Mumbai Climate Week, there are clear signs that government, markets and citizens are increasingly aligned on climate action. “If we treat climate finance as economic infrastructure and use the Budget to empower cities to lead, we give India a better chance to match its urban growth with lasting resilience,” he said.
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