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www.newsindiatimes.com – that’s all you need to know Indian Cities Need $2.4 Trillion For Climate Infrastructure By 2050, World Bank Says India’s Dr Reddy’s Plans To Launch Generic Obesity Drugs In 87 Countries Next Year, CEO Says I ndia needs to invest more than $2.4 trillion by 2050 to build climate-resilient urban infrastructure, as its fast-expanding cities face growing challenges from extreme weather events linked to climate change, the World Bank said on Tuesday. The number of Indians living in cities is projected to nearly double to 951 million by 2050 from 480 million in 2020. But erratic rainfall, heatwaves, and rising sea levels are leaving urban areas in the world’s most populous na- tion increasingly vulnerable, the bank said in a report. Without large-scale investments in housing, trans- port, water, and waste management systems, India will face escalating costs from weather-related damage, said the report entitled “Towards Resilient and Prosperous Cities in India”. “Cities need to become more resilient if people liv- ing in those cities are going to be safe,” Auguste Tano Kouame, theWorld Bank’s country director for India, said at the launch of the report, which was prepared in col- laboration with India’s urban development ministry. Urban flooding already causes an estimated $4 billion in annual losses in India, the report found. That figure is projected to rise to $5 billion by 2030 and as much as $30 billion by 2070 without remedial action. The report’s estimates based on conservative urban population growth put India’s investment needs at $2.4 trillion by 2050 and $10.9 trillion by 2070, with those projections increasing to $2.8 trillion and $13.4 trillion respectively if the population is moderately urbanised. “Timely actions can avert billions of annual damages and losses in flooding and extreme heat while investing in resilient and efficient municipal infrastructure and services,” the report said. India currently spends about 0.7% of its gross domes- tic product on urban infrastructure, well below global benchmarks, and must significantly scale up public and private financing, theWorld Bank report said. Federal, state and municipal governments must coordinate to improve project financing and provide climate-linked fiscal transfers. And India must increase partnerships with the private sector in areas including energy-efficient water supply, sanitation, solid waste management, and green buildings, it said. Private finance currently accounts for just 5% of urban infrastructure investment, the report said. -Reuters D r Reddy’s Laboratories plans to launch a cheaper copycat ver- sion of Novo Nordisk’s block- buster weight-loss drugWegovy in 87 countries next year, the Indian drugmaker’s CEO, Erez Israeli, said on Wednesday. Drugmakers are racing to get a share of the global obesity drug market, expected to generate around $150 billion in sales by the early 2030s, after Denmark-based Novo and its U.S. rival Eli Lilly saw ex- traordinary demand for their medicines. Dr Reddy’s initially plans to launch the generic version of semaglutide – the active ingredient of Novo’sWegovy and diabetes medicine Ozempic – in Canada, India, Brazil, Turkey and other emerging mar- kets, subject to patent expiry, Israeli said. “U.S. and Europe will open later… (and) all the otherWestern markets will be open between 2029 to 2033,” Israeli said a press conference to discuss the company’s earnings. He expects the generic drug to generate ‘hundreds of millions of dollars’ in sales for the company. Semaglutide’s patent is expected to expire in several countries next year, including in India in March. Novo Nordisk had sued Dr Reddy’s in May alleging patent infringement of semaglutide, according to documents seen by Reuters. Dr Reddy’s has filed relevant regula- tory applications in all the countries it is planning to launch the generic version in, Israeli said. Other Indian drugmakers, including Cipla , Lupin , Biocon, Sun Pharma , also plan to launch these generic weight-loss drugs after Novo’s and Lilly’s success. Novo launchedWegovy in India last month, following Lilly’s Mounjaro launch for weight-loss and diabetes manage- ment. The drugs belong to a class called GLP- 1 receptor agonists that help control blood sugar and slow digestion, making people feel fuller for longer. Dr Reddy’s also aims to launch 26 GLP- 1 drugs within the next decade, Israeli said. -Reuters India To Resume Issuing Tourist Visas To Chinese Citizens I ndia will resume issuing tourist visas to Chinese citizens from July 24 this year, its embassy in China said onWednesday, the first time in five years as both countries move to repair their rocky relationship. Tensions between the two countries escalated following a 2020 military clash along their disputed Hi- malayan border. In response, India imposed restrictions on Chinese investments, banned hundreds of popular Chinese apps and cut passenger routes. China suspended visas to Indian citizens and other foreigners around the same time due to the COVID-19 pandemic but lifted those restrictions in 2022, when it resumed issuing visas for students and business travel- lers. Tourist visas for Indian nationals remained restricted until March this year, when both countries agreed to resume direct air service. Relations have gradually improved, with several high-level meetings taking place last year, including talks between Chinese President Xi Jinping and Indian Prime Minister Narendra Modi in Russia in October. China’s Foreign Ministry spokesperson Guo Jiakun said onWednesday that Beijing had noted the positive move. “China is ready to maintain communication and con- sultation with India and constantly improve the level of personal exchanges between the two countries,” he said. India and China share a 3,800 km (2,400-mile) border that has been disputed since the 1950s. The two countries fought a brief but brutal border war in 1962 and negotia- tions to settle the dispute have made slow progress. In July, India’s foreign minister told his Chinese coun- terpart that both countries must resolve border friction, pull back troops and avoid “restrictive trade measures” to normalise their relationship. -Reuters By Farah Master By Nikunj Ohri By Rishika Sadam PHOTO:REUTERS/Ricardo Moraes/File Photo PHOTO:REUTERS/AmitDave/File Photo India’s Prime Minister Narendra Modi shakes hands with China’s Premier Li Qiang during the BRICS Summit in Rio de Janeiro, Brazil July 7, 2025. Commuters ride motorbikes through flooded streets following torrential rains, in Ahmedabad, India, June 19, 2025. . India News India Times (July 26, 2025 - August 1, 2025) August 1, 2025 10