Analysing the Growth Prospects of Agribusiness Input Sector in India
Darsi Pradeep Kumar
Department of Agricultural and Rural Management, Tamilnadu Agricultural University, Coimbatore, India.
K. R. Ashok *
Centre for Agricultural and Rural Development Studies, Tamilnadu Agricultural University, Coimbatore, India.
C. Karthikeyan
Department of Agricultural Extension and Rural Sociology, Tamilnadu Agricultural University, Coimbatore, India.
P. Flowrine Olive
Department of Agricultural and Rural Management, Tamilnadu Agricultural University, Coimbatore, India.
*Author to whom correspondence should be addressed.
Abstract
Aim: Agribusiness is undergoing huge transformation. Seed, fertilizer and pesticide sector plays a vital role in agribusiness. The aim of this paper is to study about the overview of agribusiness system in Indian and to analyze the growth prospects for agribusiness in India.
Study Design: Secondary data was collected from various government websites and reports. The data was organized and analysed to fulfil the objective of the study.
Methodology: Compounded Annual Growth Rate (CAGR) was used to analyse the data. Secondary data was collected from 2010 to 2020.
Results: Results revealed that the production, sale and consumption of major agricultural input-based agribusiness are growing with a CAGR of 2 per cent on an average. This revealed the scope for input-based agribusiness in India.
Keywords: Agribusiness system, seed, fertilizer, pesticide and CAGR