mumbaikolkata the mets gloomy monsoon forecast not only spooked markets on tuesday but also created a fresh set of fault lines for india inc already facing weak corporate earnings due to slow demand toi talked to some top ceos while most conceded it was a matter of concern others didnt believe itd hurt their business most of those worried said it might have a cascading effect on the economy leading to an inflation spike and fall in consumption which directly impacts corporate earnings a weak monsoon not just impacts sales sentiment of tractors and farm equipment but also potentially affects fmcg products two wheelers and consumer durables even rbi governor raghuram rajan showed his concern over the issue during his monetary policy presentation harsh goenka rpg group chairman told toi the forecast would have serious implications for agriculture the country must brace for a difficult scenario and water conservation must be prime focus the river interlinking project must be fast tracked echoing similar feelings sajjan jindal jsw chairman said thisll be a big blow we are still an agriculture dominated country and more than 50 of our population depends on it but he was optimistic since were better placed to handle the situation than a decade ago anand mahindra chairman mahindra mahindra group said for a country like india aspiring to be a superpower its tragic that its economic prospects rest upon the monsoon forecast we must make raising the percentage of irrigated land our priority and make our economy monsoonproof some others felt that the patchy rains forecast merely impacted sentiments and the key was in finding quick solutions if food inflation and cpi are managed the economy is resilient enough to withstand this said gagan banga vc md india bulls housing finance ltd even fmcg firms didnt see any immediate impact on demand consumption demand in the long run will be fuelled by higher growth through a focus on farm reforms like the implementation of the model apmc act upgrade of rural infrastructure and creation of livelihoods said b sumant divisional chief executive in charge of fmcg trade marketing and distribution itc ltd echoing similar feelings aditya agarwal director emami told toi we shouldnt be impacted much by a shortfall in monsoon most of our products are for the basic needs of consumers when disposable income comes down it impacts feelgood products fast videocon industries chairman venugopal dhoot felt indias distribution system was well placed to overcome the droughtlike situation