1. B. LOVA RAJU RENAISSANCE OF AGRICULTURE 1 Presented at: Amrita School of Business, Kochi

2. CONTENTS INTRODUCTION RESEARCH & DEVELOPMENT INVESTMENTS AGRIBUSINESSES CONCLUSION REFERENCE 2 3. The first lesson of economics is scarcity The first lesson of politics is to disregard the first lesson of economics -Thomas Sowell 3 4. INTRODUCTION Agriculture is undergoing a huge transformation Agriculture connects strongly to the national and global economy By 2050 world must feed 9 billion people Agriculture has become a big business Davis and Goldberg from Harvard Business School (1957) considered as pioneers of agribusiness 4 5. Agribusiness is the sum of all operations involved in the manufacture and distribution of agricultural materials; production operations on the farm; and the storage, processing, marketing, transport and distribution of consumer products - Davis and Goldberg 5 6. RESEARCH AND DEVELOPMENT New innovations and modern technologies are prime movers Biotechnology-The Deadlock and the Way out Managing the Ultimate Resource Collaborative and Multi-Disciplinary Research 6 7. As the driver of agricultural productivity, production and profitability, agricultural research has strong correlation with food and nutritional security, rural employment and income, and environmental sustainability, and also the internal peace and security of nations -R&D 7 8. INVESTMENTS Returns on investment in agricultural research are consistently high. I.F.P.R.I analysis on 1000+ studies show returns of 44%-80% in investment World Banks World Development Report 2008 found, average 43% return on agricultural R&D based on 700 published studies in developing world In 2008 global public spent $31.7 billion on agricultural R&D 8 9. A strong public research system at both national and international levels are needed not only to provide technological support directly to the farming community, but also to effectively compete with the powerful private R & D system that is built primarily on profit-motive and control over the technological outputs rather than reaching out to the poor farmers and ensuring social welfare. 9 10. Seed Fertilisers Pesticides Machinery & Equipment Water Power / Fuel Feed Services Production System Crop Products Livestock Products Forestry Products Fishery Products Marketing / Trade / Consumption Marketers Processors Imports Retained On-Farm / Rural Food Use Non-Food Use Exports An Overview of Agribusiness System 10 11. AGRIBUSINESSES Seeds Fertilisers Agro-Chemicals/ Pesticides Organics and Manures Farm Machinery and Equipment Marketing Water/Irrigation Structures and Equipment Animal Feeds Veterinary Products Agricultural Research/Biotechnology Crop, Livestock, Fishery and Forestry production Raw material Procurement Food and Agro Processing Food and Agro marketing Agricultural trade/Import and Export Marketing Forest-based Industries Food Supply Chain Management Inspection, Grading, Quality certification/Control Agricultural Finance/ Banking Agricultural/ Rural Development Agri Information Agri Consulting 11 12. CONCLUSION Systematic problems require systematic solutions Private sector generating Path-Breaking technologies Public sector research is stagnating and degrading Teaching activities must be research oriented Must be long term vision 12 13. REFERENCE INDIAN JOURNAL OF AGRICULTURAL ECONOMICS, Jan-Mar 2014, Agricultural Research and Extension in India by R. Balasubramanian, Page 14-44. Images:https://www.google.co.in/imghp?hl=en&ei=5IS7U_26J8mUuATOyoKQAQ&ved=0C AMQqi4oAg 13