| Agribusiness in India: Lessons and visions (1996) |
Agribusiness is one of the principle components of the overall agricultural economy of the country. However, the scope of agribusiness has been narrowed down to the marketing of foodgrains and commercial crops through regulated and non-controlled marketing channels till early nineties. The change in the perceptions of agribusiness emerged prominently after the introduction of the new economic policy highlighting the trade liberalisation as one of the main reforms.The performance of agribusiness has improved thereafter with an increasing competition in regulated and open market which attracted increasing arrivals of foodgrains and commercial crops. The policy of Commission on Agricultural Costs and Prices (CACP) has also been favourable to promote agribusiness. Besides, the implementation of consortium financing for agribusiness for capital intensive projects like floriculture, has attracted foreign investments in farm sector. Yet, the chronic lacune in the agribusiness sector could not be totally wiped off. The present paper discusses the growth of agribusiness in the new economic environment, policy perspectives and review the strategies suggested by the High Power Committee of Agricultural Marketing. The paper also attempts to draw some inferences from the overall agribusiness pattern in India and delineates a few strategies ahead.