At least 141 people died after a suspension bridge on the Machchhu river in Gujarat's Morbi collapsed on Sunday, 30 October, officials said.
Around 150 people were said to be standing on the bridge when it collapsed.
177 people have been rescued so far, and 19 are undergoing treatment, news agency ANI has reported.
Rescue and search operations are being carried out by the Indian Army, Navy, Air Force, the National Disaster Response Force (NDRF), Fire Brigade, Gujarat Information Department has said.
The bridge had been under renovation for the last seven months, and had been reopened to the public on 26 October - on the occasion of Gujarati New Year.
"Due to the bridge collapse, several people fell into the river. A rescue operation is underway. There are reports that several people have suffered injuries. They are being rushed to hospitals," Gujarat minister Brijesh Merja was quoted as saying by news agency PTI.
Rescue operations are underway, with officials saying that the death toll is expected to rise.
PM Modi, CM Patel Express Condolences
Meanwhile, Prime Minister Narendra Modi took to social media to express condolences to the families of the victims.
"I am deeply saddened by the tragedy at Morbi. Talked to Gujarat Chief Minister Shri @Bhupendrapbjp and other officials about this. Relief and rescue operations are going on in full swing and all necessary assistance is being provided to the affected," he said.
The PM's office also announced an ex-gratia of Rs 2 lakh for the kin of the deceased and Rs 50,000 for the injured persons.
"PM @narendramodi spoke to Gujarat CM @Bhupendrapbjp and other officials regarding the mishap in Morbi. He has sought urgent mobilisation of teams for rescue ops," the PMO said on Twitter.
Gujarat Chief Minister Bhupendra Patel also expressed his sympathies for the victims of the bridge collapse and announced compensation for the victims' families and the injured persons.
"I express my condolences to the families of the citizens who lost their lives in the tragedy of Morbi. The state government will provide Rs 4 lakh to the family of each deceased and Rs 50,000 to the injured," Patel said on Twitter.
Union Home Minister Amit Shah also said that he had spoken to the state's home minister, Harsh Sanghavi, and other officials regarding the incident.
Taking to Twitter, Shah said that he was "deeply saddened" over the incident. He also directed officials to provide speedy assistance to the injured.
"Local administration is engaged in relief work with full readiness, NDRF is also reaching the spot soon. The administration has been directed to provide immediate treatment to the injured," he said.
(With inputs from PTI and ANI.)