Key Points
With weather experts warning that intensity and frequency of heat waves will only increase in India in future, extreme heat will not only make daily life uncomfortable but also have serious ramifications for business, economy and household budgets...
Due to an all-time high expected in power demand, Union power minister officials are holding review meetings on the anticipated situation of extreme heat wave in the country with other ministries like railways and coal and power companies, PTI has reported...
In 2022, India experienced an early series of heat waves that affected its wheat production, leading the country, which is the world's second-largest wheat producer, to impose a ban on exports..
Last year during summers when heat waves impacted several parts of India, summer season-related temp hiring for after-sales service technicians has crossed pre-pandemic levels at close to 25%, while in-store workforce demand has increased 15-20% over the previous year, as per hiring firm Teamlease Services..
If you add to the loss of economic productivity due to extreme heat when industrial power supply is reduced and worker productivity too goes down in different sectors, the strain on various sectors of the economy, the rise in inflation and the consequent deterioration of India's macroeconomic conditions, heat waves can pose a major challenge to India's GDP growth...
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