Role of Corporate Sector in Agribusiness
April 24, 2011
Introduction
Agriculture Sector plays a very vital role in India's economic, social and political growth. The growing momentum in the agri-business and allied activities is very much visible from -
- increasing improvements in agriculture sector
- adoption of innovative management practices (both on-farm and off-farm)
- value addition due to modern technology, knowledge and financial assistance
- various Government initiatives
- Agri sector in the first half of 2010-11 grew by 3.8 per cent and is estimated to reach 5.4 per cent during this fiscal
- The total expenditure in the first four years of the Eleventh Five Year Plan (2007-12) is estimated to be US$ 9.98 billion, up from US$ 3.36 billion in the entire five-year period of the Tenth Five Year Plan (2002-07), according to the Annual Report of the Department of Agriculture and Cooperation, Ministry of Agriculture
- The Gross Capital Formation, or investment, in agriculture sector related to GDP has shown a substantial increasing trend from 15.8 per cent in 2005-06 to 22.3 per cent in 2009-10
- Exports of agricultural products are expected to cross US$ 22 billion mark by 2014 and account for 5 per cent of the world's agriculture exports, according to the Agricultural and Processed Food Products Export Development Authority (APEDA).
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