In India there are healthy signs of transformation in agriculture and allied activities. Visible improvement has come about through adoption of management practices through on-farm and off-farm operations in this sector. Agri-business has evolved out of the new input-output matrix. Agriprenuers have come to realise the importance of quality changes and value addition in agriculture. Risk and uncertainty being inevitable parameters of modern business, serving farmers and saving farming has become the need of the hour. This paper examines how under liberalisation and globalisation, agri-business has opened new vistas for growth and development of the rural economy in general and of the agrarian economy in particular. The challenges of the rural economy can be balanced provided there is better management in the economy. We suggest that the right type of managerial skills and entrepreneurial expertise peppered with timely measures by the government would help fulfil the growing needs of agri-business.
The purpose of this paper is to analyse agribusiness in the context of globalisation
with particular reference to developing countries like India. The second part gives the
conceptualisation of agribusiness. The third part is the actualisation of agribusiness in
terms of its contribution. The fourth part puts agribusiness in the management
perspective. The fifth part examines the challenges for agribusiness in India and tries to
offer some strategies to face them. The sixth part is the conclusion of the paper.