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.
Type of Material:
Reference Material
Recommended Uses:
Use as a homework reading assignment
Discuss in class
Instructors can use this paper to compare and contrast the agricultural development between a developed country like U.S. and a developing country like India.
Technical Requirements:
Browsers: Internet Explorer or Firefox, Chrome
Download as PDF from this site
Identify Major Learning Goals:
The student will be able to solidify his/her understanding of microeconomic concepts application with respect to the agricultural sector in India as an example.
Students will understand that green revolution or farm diversity is essential not only for the promotion of agribusiness and agritrade in India.
Students will understand there is a need for reform in agricultural education – a management education – for rural laborers and entrepreneurs.
Target Student Population:
• Beginner/Introductory/Survey Economics, Introduction to Microeconomics, Principles of Microeconomics, and/or Business Students and/or Economic Development in Developing Countries
Non-economics or Non-business students taking an Economics and/or Business course as a minor
Prerequisite Knowledge or Skills:
General understanding of economics
Content Quality
Rating:
Strengths:
Good list of references
Chart shows relationships between agricultural infrastructure and agricultural management.
Detailed notes provide additional information
Provides valid explanation of agribusiness
Well written
It is a short 16-page summary that provides theoretical underpinnings of development in the agricultural sector with government intervention.
Concerns:
Article is dated 2008, so information provided is old
Very narrow topic, i.e. agribusiness in India
Content requires prior knowledge of factors of production (e.g. land, labor, capital) and government’s role in the agricultural sector to appreciate its application to the developing country’s economy.
Potential Effectiveness as a Teaching Tool
Rating:
Strengths:
Students will learn about agribusiness in India
Students will understand that modernization in India requires a shift in public policy on agriculture to markets and competition
Students will learn to apply microeconomic concepts
Students can reflect on agricultural development
Concerns:
No learning objectives
Will require an assignment in addition to reading article
Ease of Use for Both Students and Faculty
Rating:
Strengths:
Easy to access article
Very clearly written
Succinct content is easy to understand with clear headings of conceptualization of agribusiness with respect to contribution to the agricultural sector, management, challenges and some strategies before concluding.
Concerns:
Not interactive for follow-up since the website is a repository of social science research.
Perhaps, an online discussion forum could help to spur further discussion and input on the topic from other countries including U.S.
Creative Commons:
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