Corrosion is the degradation of metals caused by their reaction with the environment, requiring an anode, cathode, electrolyte, and electrical circuit. The economic impact of corrosion is significant, costing India about 4.2% of its GDP, and it can occur through various processes like electrochemical, chemical, and stress corrosion. Different factors affect the rate and type of corrosion, including the environment, material properties, and specific corrosive agents.