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SS Chahal
AGRICULTURE, a major component of Indian economy, has significantly changed from just farm activity to a prodigious market-driven business. Emerging as a highly promising segment with vast opportunities to foster much-needed linkages between the farm and the market, agri-business has exhibited huge growth in recent decades under the open market environment. It has acquired a broad canvas that encompasses businesses involved in food production, including farming, farm machinery, seed supply, fertilisers, agri-chemicals, irrigation equipment, distribution, processing, marketing, trade, wholesaling and retailing. India is among the 15 leading exporters of agricultural products in the world. According to a report released in March this year by the Indian Brand Equity Foundation of the Ministry of Commerce and industry, the essential agricultural commodities’ export is likely to reach $60 billion by 2022. Traditionally an agricultural country, India needs to infuse pro