Above normal monsoon likely, consumption to get a boost

Amid the ongoing trade turmoil and talk of a global recession, there are positive reports from India -- for the second year in a row, the India Meteorological Department (IMD) has forecast above-normal rain for the monsoon season.

- Vijay C. Roy

Good rainfall is important for India's agricultural production, which not only gives a fillip to the agrarian economy but also percolates down to building strong rural demand. This in turn can benefit sectors such as fast moving consumer goods (FMCG) and automobiles, and builds growth momentum in the economy.

According to IMD, India is expected to receive above-normal monsoon from June to September this year. The outlook, which comes amid reports of above-normal temperatures across several parts of the country, has come as a respite to farmers and policymakers.