The corporate sector has an important role to play in generation and diffusion of technology in the years to come. This can be a major driver of change in Indian agriculture. However, technological advancement alone, without access to markets, is not sufficient to bring about a revolutionary change.
We have to accept the fact that the technological infusion in Indian agriculture has been triggered by the private sector, though Government of India is also increasing its investments in biotechnology.
There is a structural transformation in Agri-system with the Corporate Sector at the front end in organised food processing and retailing, as well as at the back end as input service providers through an innovative model of Rural Business/Service Hubs. As a result of this growing integration, farmers are likely to experience much greater interface with corporate world.
The growing competition amongst the front-end players should result in better prices, markets and value chain services to the farmers. It should generate positive synergies within system that can catalyze a win-win situation.
Of all the most important thing is how Indian companies are tying up with farmers for their business operations, and how good a deal it is for the farmers.
The need of the hour is to combine entrepreneurial expertise with Government initiatives to help the agri-business sector grow rapidly. Even the Corporate Professionals like Company Secretaries, Chartered Accountants, have to understand and be prepared for their role in
- Making stakeholders aware and utilize the concept of “Producer Company”
- Providing guidance in bringing Foreign Direct Investment
- Assisting utilisation of various Government Incentives