Thursday, October 28, 2010

Future Outlook on Globalization of Agro Industries

Steady globalization of trade has profound implications for the future development of agro industries. The diversity of India’s agro-ecological setting, high bio-diversity and relatively low cost of labour provide potential for agricultural competitiveness in a globalized economy.

It is expected that with increasing globalization of markets over the years, there will be demands for agricultural intensification. This will also be favoured because of greater backward and forward linkages between agriculture and food industry. Therefore, increase in production and productivity are bound to be strategically important to the economy in a globalized world.
  • Intensification will not only favour alleviation of rural poverty but will also improve resource conservation particularly in the agro industry sector.
  • Farmers can be encouraged to take up organized production of high value crops such as fruits, specialty vegetables, flowers, spices, livestock products, medicinal herbs and so on.
  • Stronger demands for crops of small farmers will not only improve incomes and welfare but will also make investments in technology and resource conservation more attractive.

This is the future outlook of the effects of globalization on agro industries,  in India, and other developing and undeveloped (third world) countries.

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