The present study aims to highlight the socio-economic implications of severe storms in a changing climate scenario in South Asia. To explore these impacts, the study first outlined the vulnerability of South Asia to climate change and severe storms. The study further investigated the socio-economic consequences of severe storms and discussed loss in human and infrastructure, implications on water, agriculture, and livestock sector, and issues of migration, resettlement, and rehabilitation. The socio-economic consequences highlighted that countries like Cambodia and Lao People's Democratic Republic are facing an average annual loss of 5–7% of their Gross Domestic Product. Several billion people in countries like India and China live in danger every year due to severe storms like tropical cyclones. Some implications of severe storms are being seen in forest areas and mangrove growth. In countries such as Bhutan, India, China, and Vietnam, forest cover has increased over time, while in countries such as Myanmar, Cambodia, and the Democratic People's Republic of Korea, it has declined. Due to severe storms, the highest number of newly displaced people was seen in South Asia, in which India and Bangladesh had the highest migration. The study also attempts to bring relevance to Traditional Ecological Knowledge (TEK) to Asian indigenous communities to respond to climate change and severe storms. Although many solutions for disaster management are available in India's ancient historical Maurya period and Kautilya's Arthashastra, present-day India became fully involved in disaster mitigation through the Yokohoma Plan, the Hyogo Framework, and the ongoing Sendai Framework. The final part of the study discussed the Disaster Management Act, of 2005, whose last mile of disaster preparedness and management is a product of defined planning, coordination, and implementation, and actual rescue and rehabilitation operations during disaster situations. The study recommends that local communities should consider practicing their indigenous knowledge in disaster risk reduction activities, including prevention, mitigation, preparedness, response, and recovery with support from international, national, and state-level mitigation and preparation strategies.