• Nariman Point, Mumbai, India
  • (022) 67471646
  • Nariman Point, Mumbai, India
  • (022) 67471646

President's Message

  • President's Message

Indian Economy and the Monsoons:

India, despite its progress in Manufacturing and Services, continues to remain a largely agrarian economy. 70% of employment is still based on agriculture, in one form or the other. Anything which impacts agriculture positively or negatively impacts the economy of that year. We have poor water management systems, with bulk of the rain water running into the seas, and not retained on land . There is talk, first mooted by then PM Atal Behari Vajpayee, to link all rivers to each other, so water gets directed as needed across the country. But it still remains a pipe dream.

Monsoons are critical to the Indian agri-economy and will continue to be so for several decades. Fortunately the current monsoon season has kicked off well across the entire country, so this should bode well for next year. If no new shocks come, we are looking at a possible 8% growth in GDP next year from the current 7.5 %. (not to forget its going to be an election year).

Don’t worry too much about getting wet time to time this season, its all for our own good . Have a great Monsoon.

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