This report is based on the outcome of discussions during a roundtable conference on ’Blue Revolution: Charting South Asia’s Water Future’ organised on 11 April, 2011, by ORF in collaboration with PHD Chamber of Commerce and Industry. The ORF report is an attempt to list out the probable areas of reformations in policy, practices and governance of water resource. The futility of the current water management policies and their implementation has raised concerns over the dramatically depleting fluvial regimes all across the country. To address the water issues, debates and dialogues amongst regional, national and international policy makers and scholars have started gaining momentum. It is understood that water is central to economic growth and poverty reduction in South Asia. Therefore, deliberations of different context specific as well as some basic universal strategies have become essential to conserve and sustainably manage this irreplaceable natural resource.