New Delhi, July 5, 2025: The India Meteorological Department (IMD) and National Commodity and Derivatives Exchange (NCDEX) have signed an MoU to integrate weather intelligence develop India’s first parametric weather derivatives. Under this partnership, rainfall data—both historical and real-time—will be used to develop weather-based derivatives, treating weather as a commodity. IMD Director General Dr. Mrutyunjay Mohapatra emphasized that this initiative aims to help individuals and businesses better plan and safeguard their economic activities, particularly in agriculture. This sytem will help farmers to prepare and plan their farming activities accordingly.
00:00Weather plays a dominant role in various socio-economic activities.
00:09Among the various weather parameters, rainfall is very significant, especially with respect to agriculture and industry.
00:1970-90% of rainfall occurs during monsoon season.
00:2460% of population also depends upon agriculture.
00:29Any variation in the occurrence of rainfall activity during monsoon season can have the influence on our socio-economic activities, our life and livelihood.
00:44So therefore, people should utilize the information available from India Metallurgical Department to plan their activities, to safeguard their economic activity and livelihood.
01:01Towards these directions, NCDEX and IMD have signed an MOU.
01:07Under this MOU, weather can be treated as a commodity.
01:13And various types of derivatives can be generated from the observed weather parameters and the forecast weather parameters.
01:23At present, currently, we are providing the observed weather parameters.
01:30We, every day, prepare a number of rainfall parameters.
01:35At station level, at block level, district level, state level, meteorological sub-regional level, and country as a whole also.
01:45Every day product, hourly product, three-hourly product, weekly product, monthly and seasonal rainfall, annual rainfall also.
01:55We also have the historical data from 1901.
01:59Based on this, we have got the grid data set available at every 25 km, which is being further improved to every 10 km.
02:09We also have the station level data set from 1901.
02:12So, under this moment of understanding, rainfall has been taken into consideration because rain is the most important parameter with respect to agriculture and hence the economy.
02:23Towards this direction, the historical data also will be provided by IMD so that there can be assessment with respect to climatic hazard potential of rainfall during monsoon season.
02:34And also, the real-time rainfall, whatever is available from IMD in the graded format or point rainfall will be provided to assess the variation of rainfall in their end and also to provide the services.
02:50We look at those, however, where this is related to climate adaptation.
02:52Which is our journey from our current line Christ.
