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Weather Derivatives: Another Need for India

In: Empirical Studies on Economics of Innovation, Public Economics and Management

Author

Listed:
  • Nidhi Choudhary

    (Banasthali University)

  • Girish K. Nair

    (Stenden University)

Abstract

The weather derivatives are comparatively new instruments which were launched only in 1997 for the first time in USA. The instrument since then has developed huge market in USA and Europe. This paper is an attempt to understand the working of the instrument and then conclude if the instrument is a good product for India. The need analysis of weather derivatives in India will be done as per the three sectors of the Indian Economy, namely Primary or the agriculture and allied activities sector, secondary or the manufacturing sector and tertiary or the service sector. The analysis will be done in terms of threat faced by these sectors from uncertain weather in India and how can weather derivatives help in controlling the loss in this condition. The paper is an analysis of sectoral need of weather derivatives. The paper will also discuss the major challenges which Indian economy can face while introducing weather derivatives.

Suggested Citation

  • Nidhi Choudhary & Girish K. Nair, 2017. "Weather Derivatives: Another Need for India," Eurasian Studies in Business and Economics, in: Mehmet Huseyin Bilgin & Hakan Danis & Ender Demir & Ugur Can (ed.), Empirical Studies on Economics of Innovation, Public Economics and Management, pages 115-126, Springer.
    • Handle: RePEc:spr:eurchp:978-3-319-50164-2_6
    DOI: 10.1007/978-3-319-50164-2_6
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