With climate change increasingly impacting ecosystems, livelihoods, and the overall viability of life, global economists and policymakers are intensifying efforts to mitigate these risks. India, ranked among the top ten economies most sensitive to climate risks, is already experiencing significant adverse effects.

The impact of climate change in India, driven by rising temperatures and shifting monsoon patterns, could lead to a loss of 2.8 percent of GDP and decreased living standards for nearly half of its population by 2050, as per the RBI's Department of Economic and Policy Research (DEPR) in its latest Currency and Finance report for 2022-23. Without effective mitigation measures, India could face an annual GDP loss ranging from 3 to 10 percent by 2100 due to climate change.

Expectations from the collaborators: Economists note that the prices of these essential items typically move together, and their volatility significantly influences food inflation.

Incentives: Certain perishable vegetables such as tomato, onion, and potato (TOP) are particularly vulnerable to extreme weather events like cyclones and untimely post-monsoon rainfall.