Thursday, June 2, 2011

The New Agripreneurs

Indian agriculture sector grew 6.6% in fiscal year 2011 as against 0.4% in the previous fiscal, thanks to high agricultural product prices which is encouraging existing farmers to produce more and also bringing in lot of new agricultural entrepreneurs.

In past decade there has been shift in interest from farming to other jobs for living among farmers and their children due to high labour and low return economics of the sector. But now this economics is changing for the good and many who left their ancestral farming jobs are returning back.

Many entrepreneurs in last few years have started their venture in farming sector which holds lot of promise if modern techniques are applied and done in an organized fashion. Government is also providing various supports and subsidies for farming to boost the growth of the sector.

This trend is expected to continue in coming years and the agriculture sector which was almost written off from the GDP as a contibutor is now coming back. It should not be surprising if agriculture becomes 10% of total GDP growth in coming years

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