It is now well known that climate change will have significant negative impacts on development, poverty alleviation, and the achievement of the Millennium Development Goals (MDGs) as new threats threaten water and food security, agricultural production, nutrition, and public health. Since water is the primary medium through which climate change influences the Earth’s ecosystems and therefore people’s livelihoods and well-being, the urgent need for all communities is to look for avenues to adapt to water-related impacts. Since Climate Change will have a significant impact on water related concerns, today’s world needs to address water management issues in an urgent manner. This is especially true in developing countries. This paper explores the awareness and possibility of involving the private sector to initiatives among practicing managers in India. Using an empirical approach and applying structural equation modeling for data analysis, the paper concludes that awareness to adaptation needed in the area of disease and health, significantly leads to private sector taking up adaptation initiatives to water-related impacts of climate change. Higher the level of awareness to adaptation needed in the area of disease and health, higher will be the propensity to take up adaptation initiatives to water-related impacts of climate change.