A Study on The Impact of Agri-Entrepreneurship In The Development of The Agricultural Sector Resulting In Upliftment of The Indian Economy
India has a very large agriculture sector.While the sector's GDP share has been almost halved over the previous 30 years to about 15%, it still employs roughly half of India's workers and accounts for much of the volatility in Indian GDP.India, one of the world's largest agricultural economies, remained closed until the early 1990s.This industry employs over 52% of India's total population and accounts for approximately 18.1% of GDP.India is the world's third largest producer of agricultural commodities such as paddy, wheat, pulses, groundnuts, rapeseeds, fruits and vegetables, sugarcane, tea, jute, cotton, tobacco leaves, and so on (GOI, 2008-09).Rural areas are home to 67% of the population, who work in agriculture or related fields.Economic growth focused on agriculture will aid India's attempts to enhance its rural areas.In layman's terms, agri-entrepreneurship is agriculture that is sustainable, community-focused, and directly marketed.Sustainable agriculture is a systemic approach to farming that highlights the interconnection of social, economic, and environmental systems.Agriculture is the foundation of the Indian economy.According to Khan M.A. (2021), 67% of people reside in rural areas and make their living through agriculture and related sectors.Agriculture-based economic growth will benefit India's rural development efforts (Anderson 1982).Agripreneurship, as defined by Fitz-Koch et al. (2018), is an entrepreneurial approach used in agricultural or related industries.Agriculture is commonly characterised as a low-tech, low-dynamism industry, with a high number of small family businesses that value doing things well above trying anything new.Agricultural businesses are increasingly being challenged to adjust to market changes, changing client lifestyles, new environmental requirements, and new product quality, supply chain management, food security, sustainability, and other factors.Despite COVID-19, India's agriculture industry still generates over 20% of GDP and employs more than half of the population.Agribusiness prospects are generally focused on the input, agricultural, value chain, output processing, and marketing phases, as well as related services.The agricultural process requires a wide range of inputs, including seeds, fertiliser, pesticides, and cutting-edge regional farm equipment.Entrepreneurship prospects abound in fields such as biopesticides, biofertilizers, vermicomposting, testing, and soil remediation.The increased emphasis on organic farming opens up even more possibilities.In terms of seed development, there is plenty of room for R&D.Even in adverse weather conditions, these seed variations are expected to serve.
Authors
- Baxiskumar Patel (ORCID: https://orcid.org/0000-0003-4396-4312)
- Yash Piyushbhai Trivedi
Publication Details
- Journal
- Darshan - The International Journal of Commerce and Management (DIJCM)
- Published
- 2024-12-30
- DOI
- https://doi.org/10.56360/dijcm/4.ii.2024.2404
- Citations
- 1
- Primary Topic
- Agricultural Economics and Practices
- Type
- article
- Field-Weighted Citation Impact
- 1.34