Agriculture Business opportunities in 2024
Welcome Entrepreneurs & Readers in the Blog Post of ‘Agriculture Business opportunities in 2024 ‘. In this blog post we are going to discuss about Agriculture Industry with its past & future, its segments, its carrier & money making business opportunities, its trends, Business opportunities in Agriculture business, Pros and cons of agriculture business, Brown Revolution, Genetic odification(GM) technology, Organic farming, Waste of Food, Cold Chain sector, Food Processing, Farming-as-a-Service (FaaS), Urban farming and so on. Stay with us and don’t miss any content from blog series.
Agriculture Industry
Agriculture’s power is that it has a rich history, vibrant present and promising future. 60% of the global population are in agricultural areas and has a farming background. Agriculture provides social and economic benefits to every human being. The growth of agriculture is the only factor that directly affects food security. It is crucial in socioeconomic development and opening up employment opportunities. One billion people, or 14% of the world’s population, are still suffering from hunger. Food scarcity is a constant threat to the entire world. Production of food must continue as a business on a war footing. Moving yourself will be the first step. The first step is overcoming the fear of a food shortage with help of agriculture industry.
Segments of Agriculture
There are two different types of agriculture businesses: subsistence farming and commercial farming. Subsistence farming entails gathering crops or livestock for personal or family consumption.
Agriculture Industry in India
Sardar Patel, a great leader of India, responds, “Our culture is agriculture,” when asked what makes India unique. Like the rest of the world, India’s economy is primarily based on agriculture. Next to China, India is the second-largest food producer in the world, and it has the potential to overtake China as the leader in the food and agricultural industries. Future priorities include increased crop productivity and output.
India experienced food shortages in 1966 and a creative disruption due to self sufficiency in 1971. India produced 17 million tons of milk in 1951, while the US produced 53 million tons. Currently, the US produces 91–12 million tons, while India produces 160 million tons. India exports more rice than any other country in the world, accounting for over 25% of all exports. In terms of producing rice and milk, India comes in second. It is also a top producer of beef and chicken meat. India tops the list of nations with the greatest export growth over the past ten years, with an export growth rate of 21.3. From food to fiber over the past 15 years, 1800 million hectors of land in India have been used to grow various crops using GM technology.
Business opportunities in Agriculture business
India is a country that consumes more food than the rest of the world combined.
With an increasing global population comes a rapid increase in demand for agricultural products. For food production to keep up with demand, the world must increase production by 40% by 2030.
Agriculture is one of the most crucial frontiers for conservation worldwide because of its close ties to the global economy, human societies, and biodiversity. India’s agricultural sector has become more mechanized, increasing productivity. India could provide modern agricultural machinery in the future. India can export tractors, sowing machinery, earth moving equipment, harvester, thresher, and bailer machinery to other countries. It is now necessary to find a “viable alternate farming model” in order to advance the agribusiness industry.
Humans are always aware of challenges because of their history. Humans look for opportunities and for that agriculture is always beneficial. Although it appears that many IT and management professionals are entering the agricultural sector currently, you should enter the sector while you are still young and make it profitable. The young people of tomorrow can do anything. Agronomy, Agriculture Engineering, Animal Husbandry Livestock, Horticulture, Agriculture Economics, Food Processing Sector, and Fishing are the various agriculture sectors that are most in demand and have the most potential.
Please note the most popular agricultural products are including food grains like green millet, wheat, rice, and maize, as well as vegetables like onion, okra, bottle gourd, brinjal, curry leaves, drum sticks, green chilies, peas, guargum, lime, mushrooms, potatoes, tomatoes, ginger, cauliflower, and cashew nuts. Other popular agricultural products include processed foods, dairy products, fruit, spices, green tea, coffee, cereals & pulses and commercial floriculture.
Organic farming
Nowadays, business owners are looking into organic ventures. Organic farming includes vermicompost, green leaf manures, biological management, animal husbandry, bio fertilizer, and manures.
Genetic modification (GM) technology that is Gem Revolution
From the Green Revolution to GM technology, the world is changing.
The goal of the Accelerating Green Revolution program is to achieve a massive increase in output and productivity of agriculture. Major crops in India that use GM technology include BT Cotton, BT Brinjal, GM Mustard, Soybean, Maize, and Canola.
As technology advances, it becomes clearer that agriculture will always be supported. Following the Green Revolution, the Gem Revolution, and the Brown Revolution, the soil mother is given the care she requires. Seed technology and precession technology are essential to the future of the agricultural sector because they reduce costs, protect the environment, and make it accessible to all people.
Pros and cons of agriculture business opportunities
The next world war is rumored to be fought over access to food, water, light, and soil. Water needs to be saved. When a country exports 1 liter of rice, it actually exports 5000 liters of water, and when it exports 1 kg of sugar, it actually exports 2000 liters of water. As global growth increases, so does our water scarcity. At the same time that some countries are inundated by water and others are experiencing a shortage, developed countries are able to sustain their resources and rely on developing countries for the products that use more water. Increasing productivity is a sustainable strategy that strains the limited natural resources. There is potential for business development to find out the solutions.
Due to population growth, there is less land available for agriculture. To meet future needs, it is necessary to use the dwindling and deteriorating land resources wisely. It is necessary to have in place adequate policies, strategies, technologies, and human resources. Only 183 million hectares of the 733 million hectares of arable land on the Indian continent are currently under cultivation. It is depressing to learn that vast areas of land that could support agriculture are still undeveloped. A remedy for that is the Brown Revolution.
Brown Revolution
Poor agricultural performance is a significant impediment to the growth of the agribusiness sector. An obstacle of food production is the availability of land for agriculture. The world is now aware of Brown Revolution, an agricultural enterprise based on crop and soil monitoring.
Gem Revolution
Genetically modified foods are killing us as well as agricultural land and farmers as a result of chemical fertilizers. Even though the most priceless mother’s milk has turned poison, we are suffering from cancers as a result of eating genetically modified foods and chemical fertilizers that are injected into the soil and then into our blood. This is the daily cause of harm to the environment. 60 trees are cut down even for small projects, which has caused more harm to society. The country was required by the world to import natural fertilizers. There is opportunity where there is a challenge.
Waste of Food
Similar to the other nations on the list, food waste is a major issue in India, where 40% of the food that is produced ends up in the trash. There is a business opportunity for the management of organic waste, which includes the management of waste-agro, animal, farm, and 700 tons of biograded waste.
Converting the problems into business opportunities is the difficult part. It is necessary for both continents to work together to overcome the obstacles. In order to compete in other international markets, the agribusiness sector needs to be developed into an effective business enterprise. Agriculture diversification typically entails the development of horticultural crops, vegetables, oils, nitrogen-fixing plants, etc. One of the most recent trends in the agricultural sector is this.
Cold Chain sector
Someone once said that the solution for the cold chain sector is grain safe, which is grain produce. In the agricultural industry, cold chain storage presents a good business opportunity. Additionally, there is opportunity in the post-harvest management industry.
Food Processing
The best way to prevent wasted agricultural products is to operate a food processing business. Any nation’s economy depends on the food processing sector because it connects agriculture and industry. The food processing industry can give the agricultural sector the boost it needs for overall growth as the focus is shifting to the development of horticultural crops. India as a developing country has a great opportunity to profit from the growth of the food processing sector.
Farming as a service
A few years ago, India gave birth to the idea of “farming as a service” by renting out farming equipment and implements on a pay-per-use basis. Although the idea is still in its early stages, it is growing in popularity, and a few local start-ups have already started selling their products. The majority of farmers will be interested in farming services like land preparation, soil-health information, sowing, harvesting, crop management, post-harvest management, and machinery rental because they own small farms which are more affordable and require less capital investment.
Urban farming
Urban farming is a growing business opportunity.
Conclusion
Just a few words to wrap up. Today, the importance of strategic partnerships in agriculture for the adoption of best practices and to maximize benefits through technology transfer has increased. To realize their full potential, the agribusiness and food processing sectors need greater public-private partnerships, access to agricultural markets, and financial support. Infrastructure like roads, markets, cold chains, and water conservation all require significant investment. Banks and investment companies form a strategic alliance to address the credit needs of the agricultural sector. The agricultural business would be better able to meet their financial needs as a result.
Be sure to eat. Invest in agriculture as well. Be the agricultural industry’s seeds and soil, and establish the sector’s landmark to create, use and prosper for you along with the rest of the world. One must encounter a doctor, lawyer, or teacher once in a lifetime, but one must encounter a farmer every day. The farmer is giving us food. You must find a farmer if you need to eat. Keep Reading! Thank You.
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