The field of agriculture is of colossal importance in the global market, especially in developing countries. It provides the main source of food, inco
The field of agriculture is of colossal importance in the global market, especially in developing countries. It provides the main source of food, income, and employment to their rural populations. Let’s take the Indian market for example, according to the Business and Economics Journal, the Indian agriculture sector accounts for 18 percent of India’s gross domestic product (GDP) and provides employment to 50% of the country’s workforce. Therefore, it becomes imperative for agribusiness professionals to make sustainable agribusiness decisions and minimize financial risk in agriculture. Some of the reasons why agribusiness professionals are needed in this contemporary business environment are to help adapt to new technologies – The use of contemporary technology benefits any field and agribusiness is no different. A well-known example of technology usage in agribusiness is satellite-based global positioning systems (GPS). Such agribusiness technologies boost agricultural efficiency by reducing wasted resources, saving time, and improving output. Furthermore, various R&D projects are conducted in agribusiness to find newer technologies and improve the existing ones which includes developing genetically engineered crops, improving pest resistance of crops, the use of biotechnology, etc. Next, these professionals are required to promote sustainable agricultural practices. Traditional agricultural practices are known to impact the environment in a negative way. For instance, agricultural production affects climate change through precipitation levels and temperature variations. Moreover, implementing poor agricultural practices during farming brings about climate change by releasing greenhouse gases such as methane, nitrous oxide, and carbon dioxide. To protect the environment from such harmful practices, agriculture professionals actively look to promote sustainable farming. It acts as a solution to enable safe agriculture in the current environmental conditions, and also promises to preserve available natural resources. We require agribusiness professionals to also help farmers understand agribusiness.The primary objective of an agribusiness professional is to examine farming problems and find an approach that will lead to economic growth and the development of farmers. The approach could be elevating a farmer’s understanding of agribusiness by mentioning the benefits. From mentioning avenues of solid income to tax benefits for farmers, agribusiness professionals can fill farmers with the confidence that implementing agribusiness practices will benefit them greatly. As a result, the field of agriculture prospers and so does the country’s economy.