Title page 1

Contents 12

Executive summary 6

1. Climate risks as a material constraint on Indian industry 14

1.1. India's escalating physical climate risk profile 14

1.2. Climate impacts on industrial operations 17

2. Current policy landscape at the national and subnational levels 20

3. Gaps and challenges with advancing Indian industries' climate resilience 23

3.1. Fragmented policy and institutional landscape 23

3.2. Limited access to decision-grade climate risk data 23

3.3. Limited financial and technical support for adaptation actions 24

3.4. Capacity and financing constraints, particularly for MSMEs 25

3.5. Absence of standardised industry-relevant metrics and reporting frameworks 26

3.6. Uneven state-level implementation and limited access to decision-grade climate data 26

4. Current practices of building climate-resilience at the industry level 27

4.1. Key takeaways and lessons learnt 33

4.2. The need for collective climate action 34

4.3. The role of insurance and parametric solutions in industrial climate resilience 36

5. Recommendations 37

5.1. Recommendations for industry partners 37

5.2. For government stakeholders 40

6. Way forward: From policy intent to industrial climate resilience at scale 42

References 43

Tables 18

Table 1. Industrial sectors' exposure to climate risk 18

Figures 16

Figure 1. Rise in frequency and intensity of extreme climatic events in India 16

Figure 2. How physical climate hazards translate into operational and financial risks for Indian industries 19

Figure 3. India's climate policy landscape: Strong national frameworks but limited industry adaptation integration 22

Figure 4. Key gaps and challenges in advancing Indian industries' climate resilience 24

Boxes 25

Box 1. Why mitigation moves faster than adaptation - a policy contrast 25

Box 2. Why an industry coalition is critical for scaling climate resilience 38