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flag India’s 2025 winter smog crisis severely disrupted economy, costing $260B and halting construction, reducing spending, and hurting retail and real estate.

flag India’s recurring winter smog season is increasingly harming economic performance, with Delhi and Mumbai facing construction halts, reduced consumer spending, and lower retail profits due to hazardous air quality. flag In 2025, the term "air pollution" appeared 988 times in BSE AllCap earnings reports—the highest since 2021—reflecting growing business disruptions. flag The economic cost of pollution reached $260 billion in 2024, including $74 billion in lost consumer spending. flag Retailers and real estate developers report significant delays and declining revenues, prompting shifts to enclosed, air-conditioned commercial spaces in high-pollution zones.

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