Active Stocks
Thu May 30 2024 12:03:51
  1. Tata Steel share price
  2. 166.10 -4.65%
  1. NTPC share price
  2. 363.60 -0.27%
  1. State Bank Of India share price
  2. 824.50 0.19%
  1. Tata Motors share price
  2. 934.05 -1.02%
  1. Wipro share price
  2. 444.20 -1.49%
Business News/ News / India/  Invest in resilient infrastructure today for a better tomorrow, says PM Modi
BackBack

Invest in resilient infrastructure today for a better tomorrow, says PM Modi

Highlighting the borderless nature of natural disasters and their far-reaching impacts in our interconnected world, PM Modi advocated for a unified approach to resilience

Prime Minister Narendra Modi addresses the 6th edition of the CDRI via video message. (PTI Photo via PMO)Premium
Prime Minister Narendra Modi addresses the 6th edition of the CDRI via video message. (PTI Photo via PMO)

Prime Minister Narendra Modi has called for substantial investments in resilient infrastructure to secure a better future, particularly in light of the severe weather shocks attributed to climate change, which have increasingly threatened lives, livelihoods, and economic stability.

“We must invest in resilient infrastructure today, for a better tomorrow. Resilience needs to be factored into new infrastructure creation. Further, it also needs to be a part of post-disaster rebuilding," PM Modi said on Wednesday at the sixth edition of the International Conference on Disaster Resilient Infrastructure (CDRI). “After disasters, the immediate focus is naturally on relief and rehabilitation. After the initial response, our focus should also include resilience of infrastructure."

Highlighting the borderless nature of natural disasters and their far-reaching impacts in our interconnected world, Modi advocated for a unified approach to resilience. "Nature and disasters have no borders. In a highly interconnected world, disasters and disruptions cause widespread impact. The world can be resilient collectively, only when each country is resilient individually," he added, underscoring the importance of shared resilience due to shared risks.

The tangible effects of natural disasters extend far beyond financial measurements, deeply affecting individuals, families, and communities. Earthquakes, for example, not only cause widespread property damage but also displace thousands, while other disasters can compromise critical water and sewage systems, posing significant health risks. The disruption of energy plants by natural events can also create hazardous conditions.

The prime minster also highlighted efforts to bolster the resilience of particularly vulnerable regions, such as Small Island Developing States (SIDS), through targeted support. "To achieve shared resilience, we must support the most vulnerable. For example, Small Island Developing States are at high risk of disasters," Modi explained. 

CDRI initiatives

He detailed CDRI’s initiatives in these regions, which include funding projects for resilient housing in Dominica, resilient transport networks in Papua New Guinea, and enhanced early warning systems in the Dominican Republic and Fiji.

Under its Infrastructure for Resilient Island States (IRIS) initiative, CDRI last October allocated grants to 11 projects across 13 SIDS aimed at developing multi-hazard early warning systems, retrofitting housing strategies, climate resilient transport infrastructure, and piloting disaster risk insurance schemes.

Modi noted the formation of a new Disaster Risk Reduction Working Group during India’s G20 Presidency. This group, focused on financing strategies, represents a critical step toward a resilient future, according to the prime minister. 

He concluded, asserting that initiatives like these, along with the growth of CDRI, are pivotal in steering the global community towards sustainability and resilience.

Also Read: Just 3% of ED investigations related to people in politics, says PM Narendra Modi

You are on Mint! India's #1 news destination (Source: Press Gazette). To learn more about our business coverage and market insights Click Here!

ABOUT THE AUTHOR
Puja Das
Puja Das is a New Delhi based reporter, covering food, farm, fertiliser, water, and climate change policies for Mint. Puja reports on food security, farmers' distress and how the agriculture sector is impacting India's rural economy along with policy initiatives to help meet the pledges made at COP21 in Paris. Puja holds a post-graduation degree in Broadcast Journalism from the Indian Institute of Journalism & New Media, Bangalore.
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 24 Apr 2024, 05:16 PM IST
Next Story footLogo
Recommended For You