This report presents the main findings of UNDP’s inclusive insurance and risk finance country diagnostic for India. It sets out key risks, the current inclusive insurance and disaster risk finance landscape, and recommendations to advance inclusive insurance, risk finance and development.

India’s chief risks include floods, drought, tropical cyclones, heatwaves and cold waves. The country has the world’s third-largest agriculture insurance market, driven by the government-supported crop insurance scheme, which reaches many smallholders. Disaster risk financing centres on post-disaster relief and recovery through National and State-level Disaster Response Funds.

Recommendations include developing innovative microinsurance products; exploring new insurance distribution models; and supporting disaster risk insurance and risk pooling.