The rains may even hit the Kerala coast a few days earlier than anticipated. The conditions look favourable for monsoon''s earlier onset. Experts believe good rains will be the positive sign to help increase agriculture production, spark demand for auto, FMCG and fertiliser sectors. Mahesh Vyas, MD & CEO, CMIE, said: We have already forecast agriculture growth in our estimate. We expect India to witness GDP growth of over 9 per cent. The primary articles contribute 22 per cent to the wholesale price index and with two-thirds of India''s summer crop dependent on the south-west monsoon, any good news from met department will only help boost industry sentiment.
D-Street running a bit out of steam is also pinning its hopes on the rain gods. Historically, markets have shown positive correlation with normal to above average monsoons. Call it sentiment or just the lack of a trigger with inflation high and industrial production low, the Indian economy could sure do well with a good bout of rain.
D-Street running a bit out of steam is also pinning its hopes on the rain gods. Historically, markets have shown positive correlation with normal to above average monsoons. Call it sentiment or just the lack of a trigger with inflation high and industrial production low, the Indian economy could sure do well with a good bout of rain.
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