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yep it is correct to say that India would have been an arid land with out monsoon because :
1. we the people of India depend on the monsoon rains for the farming and agricultural purpose.
2. rain water is stored and used as a source of water in the cities of India.
3. the rain water is used to recharge the ground water level in our country so that we can use the rain water.
4. we all make use of the rain water through rain water harvesting management.   
5. we use up the rain water in the absence of the ground water or even other source of water .
no this statement is not at all correct that India would have been an arid land with out monsoon :
1. we can depend on the ground level water of water instead of the monsoon water.
2. we can depend on the fresh water sources like rivers, lakes and even seas.
3. we can even depend on the well's as well as bore wells for the water.
4. we can clean and purify and use up the water in the oceans also.
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hope so my answer is useful and mark as best if possible :D
woah . *__*