IGSD, NCAER to study Arctic’s impact on Indian economy

Vijayawada: Institute for Governance & Sustainable Development (IGSD) and National Council of Applied Economic Research (NCAER) on Monday announced a new partnership to investigate the economic impacts of Arctic ice melt on India, its economy and global impact.

The collaboration aims to leverage both organisations’ expertise to deliver insights into the intersection of climate change and economic stability. IGSD and NCAER will develop comprehensive economic models to assess how the Arctic changes, particularly with the loss of sea ice, affecting India’s monsoon variability, directly impacting agricultural outputs in India, and its overall impact on the economic health of the country. The research will also explore the broader implications of the Northern Sea Route on global trade and the Indian economy. In a statement, Durwood Zaeike, President of IGSD, said: “This partnership represents a significant step forward in understanding the far-reaching impacts of Arctic changes. By combining our expertise, we aim to provide policymakers with the critical data they need to make informed decisions that protect the planet, as well as the economy.”