India’s Economy Less Dependent On Monsoon Shocks Due To Irrigation Shift: Bernstein

India’s economy has undergone a structural shift that has reduced its dependence on monsoon rainfall, with improved irrigation coverage and changing agricultural patterns shielding farm output and rural demand from severe weather-related disruptions, according to brokerage firm Bernstein. The brokerage said the widely held belief that nearly 60% of Indian agriculture remains dependent on monsoon rains no longer fully reflects current conditions. It noted that the country’s relationship with rainfall has cha