New Delhi, May 18 -- Urban areas are expected to contribute nearly 70 per cent of India's GDP growth by 2036, driven by rising investments in urban infrastructure and reforms in municipal financing, according to a report by Brickwork Ratings.

The report titled "From grants to markets: How Urban Challenge Fund will reshape urban finance in India" highlighted that India would require around Rs 80 trillion in urban infrastructure investments by 2037, even as Urban Local Bodies (ULBs) currently rely minimally on debt markets.

According to the report, "Urban areas' contribution to India's GDP by 2036" is projected at 70 per cent, underlining the growing importance of cities in India's economic expansion.

The report noted that the newly intr...