February 27, 2024

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Global think-tank moots entrepreneurship model for agriculture revival

When the farmers’ agitation is at its peak in India, Washington-based mostly Global Food Policy Investigate Institute (IFPRI) has advocated the entrepreneurship route to sustainable agriculture, youth empowerment and rural transformation.

Suresh Babu, Senior Investigate Fellow and Head of Capability Strengthening at the IFPRI, was speaking at the webinar series titled ‘Disruption & the New Normal’ by the ISED Smaller Enterprise Observatory at the Institute of Smaller Enterprises and Advancement.

When agriculture has been ready to endure the pains of the Covid-19-induced disruption in the financial system at minimum to some extent, the sector, globally, has been shaken by the over-all crash in trade and need. When the low absorptive capability of agriculture is nicely-recognised, alternatives featuring enhanced productivity and larger employment alternatives require to be explored. Entrepreneurial solutions on your own can supply the best path for coming out of the deadlock. These types of an substitute lies in the lively engagement of task creators in the rural sector, he mentioned.

Also read through: Conserving the foods benefit chain amid Covid lockdown

Youth entrepreneurship in agriculture and allied routines maintain sizeable prospective, says the economist. Objectively, the prospective is equally on the need and offer sides. On the need aspect, youth unemployment is on the rise, globally as also in India, demanding quick solutions.

On the offer aspect, they are far more tech-savvy and are amenable to adaptation and adjust. This is specially vital in an era where Business four., as the important paradigm adjust, is very likely to carry in massive alterations in the financial system, as also in the way we do items.

Citing the comparative working experience of India with that of smaller countries this kind of as Bangladesh, and Nigeria, Babu indicated that the entrepreneurial problems and alternatives are varied throughout countries, demanding distinct and personalized solutions.

Even so, the prevailing solutions currently are generally based mostly on static styles, constrained by deficiency of versatility, and design-delivery hole. This phone calls for flexible and built-in styles, he included.

The interactive session was moderated by PM Mathew, Senior Fellow and Director, ISED.