eChapters

Introduction

Agriculture forms the backbone of the Indian economy. Although there has been large industrialization in the last 60 years, agriculture still occupies the prominent place of importance (Banarsi Lal, 2019). The agriculture sector contributes about 20 per cent of GDP in India (MoF, 2020-21). Both the agriculture and livestock sectors provide employment to 52 per cent of the work force (Rathod and Dixit, 2019). In India, most of farmers have small average holdings. Agriculture marketing can play important role in increasing income of farmers with same landholding. Agriculture plays a vital role in India’s economy. 54.6 of the total workforces is engaged in agriculture and allied sector activities (Census 2011) and accounts for 18.8% (First Advance Estimates) of country’s Gross Value Added (GVA) for the year 2021-22 (at current prices). Agriculture sector needs structured and functional markets, preferably in the vicinity of farmers, to drive growth, employment, remunerative prices and economic prosperity in rural areas of the country.

1.    The first step in an econometric study should be to___________.

(a) Develop the specification

(b) Collect the data

(c) Review the literature

(d) Estimate the unknown parameters

2.    OLS stands for what in Econometrics?

(a) Optimally linearized solution

(b) There is no such thing in econometrics

(c) Ordinary least squares

(d) None of these

Cost of Cultivation

The expenditure incurred from sowing to harvest including the field preparation can be worked out and expressed in Rs. ha^-1.

Gross Return

Total income obtained from multiplication of unit cost of main product as well as byproducts and its total yield and expressed in Rs. ha^-1.

Net Return

Net return is obtained by subtracting cost of cultivation from gross return and expressed in Rs. ha^-1.

Net return = Gross return – total cost of cultivation

21.1 Cost Principle

 We know that

 TC = VC + FC

 and Net Revenue = TR-TC.

In the short run, gross revenue (G.R.) must cover the V.C. The maximum net revenue is obtained when MC = M.R. If GRs VC, the guiding principle should be to keep increasing production as long as MR > M.C. In the short run, MC = MR point may be at a level of input use that may involve a loss instead of profit. Yet at this point, the loss will be minimised.This situation of operating the farm when MR > AVC but

Introduction

In recent decades, economic reforms centred around liberalization, privatization, and globalization have emerged as fundamental drivers of economic transformation on a global scale. These reforms represent a departure from traditional state-centric economic models, emphasizing market-oriented approaches and greater integration into the global economy. This introduction sets the stage for a deeper exploration of the interconnectedness and impact of these reforms on economies worldwide, highlighting their significance in shaping the contemporary economic landscape.

Historical Background

During the 1980s, India found itself facing an economic crisis characterized by a gradual decline in its economy. By the decade's end in 1990, the country was plunged into a severe Balance of Payments (BOP) crisis. This crisis was caused by a mounting fiscal deficit and escalating overvaluation of the currency. Compounding matters, the invasion of Kuwait by Iraq occurred in the same year, triggering a significant spike in oil prices and a corresponding drop in remittances from Indian expatriate workers. The resultant increase in the cost of purchasing oil and the rapid decrease in net factor income from abroad exacerbated India's economic woes.

As the agricultural sector progresses, brands must implement a cohesive strategy that harmonises developing technologies, adaptive regulations, and a profound comprehension of changing consumer psychology. This chapter examines how the strategic integration of these three factors can augment brand value and foster enduring consumer loyalty. The chapter initiates by delineating the fundamentals of brand development within the agricultural sector, emphasising the essential components of brand identification and the principal economic and psychological factors influencing customer endorsement of agri-brands. It subsequently explores the crucial function of technology, analysing how digital instruments, blockchain, artificial intelligence, and immersive technologies might transform branding tactics and enhance transparency and consumer involvement. The policy frameworks that direct brand creation are equally significant. This chapter examines the influence of regulatory requirements, sustainability initiatives, and intellectual property rights on brand integrity, credibility, and access to global markets. It subsequently examines the economic benefits of technology-driven and policy-compliant branding, including enhanced customer willingness to spend, elevated brand loyalty, and competitive advantages. This chapter emphasises the significance of psychological resonance for sustained brand success, while also exploring the roles of emotional branding, persuasive narrative, and the utilisation of cognitive biases. It ultimately offers techniques for the integration of technology, policies, and psychological involvement into unified brand creation, while also tackling the issues of reconciling innovation with compliance. This thorough chapter provides agricultural companies with case studies and forward-looking insights to effectively manage the changing landscape, yielding both substantial economic benefits and lasting emotional ties with consumers.

Abstract
As the agricultural sector progresses, brands must implement a cohesive strategy that harmonises developing technologies, adaptive regulations, and a profound comprehension of changing consumer psychology. This chapter examines how the strategic integration of these three factors can augment brand value and foster enduring consumer loyalty. The chapter initiates by delineating the fundamentals of brand development within the agricultural sector, emphasising the essential components of brand identification and the principal economic and psychological factors influencing customer endorsement of agri-brands. It subsequently explores the crucial function of technology, analysing how digital instruments, blockchain, artificial intelligence, and immersive technologies might transform branding tactics and enhance transparency and consumer involvement. The policy frameworks that direct brand creation are equally significant. This chapter examines the influence of regulatory requirements, sustainability initiatives, and intellectual property rights on brand integrity, credibility, and access to global markets. It subsequently examines the economic benefits of technology-driven and policy-compliant branding, including enhanced customer willingness to spend, elevated brand loyalty, and competitive advantages. This chapter emphasises the significance of psychological resonance for sustained brand success, while also exploring the roles of emotional branding, persuasive narrative, and the utilisation of cognitive biases. It ultimately offers techniques for the integration of technology, policies, and psychological involvement into unified brand creation, while also tackling the issues of reconciling innovation with compliance. This thorough chapter provides agricultural companies with case studies and forward-looking insights to effectively manage the changing landscape, yielding both substantial economic benefits and lasting emotional ties with consumers.
Keywords: Brand development, technological advancement, policy interventions, psychological resonance, developmental procedures.

Economic System

The three economic problems What, How and to whom to produce are common to all societies or economics. But different countries follow different approaches to solve basic economic problems. These approaches are called economic systems. There are 3 important economic systems.

1. Command economies
2. Market economies and
3. Mixed economies

1. Command economies (Socialist economies): In a system like this, the government controls all aspects of production and distribution. Such a government might be dictatorial or it might be democratic. Main features of socialism are public ownership of means of production, Economic planning, Economic equality, lack of competition, elimination

Model Project for Setting Up 10 & 20 Cow Dairy Farm (Indicative)

    ·    The models are only indicative and in no way designed to provide exact economics. Following guidelines may be used by the interested persons to work out the details of their project, depending upon the local market and conditions.

    ·    An interactive module considering the land availability for fodder cultivation, willingness to opt for silage bunkers, type of chaff cutter (manual or machine operated), milking machine, mister set, etc. is under preparation.

    ·    The proposed interactive module would require preference for set of inputs and intended herd size and accordingly generate output outlining the estimated investment, cost and return.

Agricultural Economics is an applied discipline that examines the economics of agricultural commodity production, marketing, exchange, and consumption in the economy. It largely focuses on how a society decides to use its limited resources, which have alternative uses, to produce things for both current and future consumption. Due to this shortage, people are forced to choose between options, and economic knowledge is utilised to compare the options and select the best one. For example, a farmer can grow paddy, sugarcane, banana, cotton etc. in his garden land. But he has to choose a combination of crops depending upon the availability of labour and irrigation water.

The emergence of economic problems is caused by two key reasons.. They are: (i) the existence of unlimited human wants and (ii) the scarcity of available resources. The existence of human wants is the starting point of all economic activity in the world. Unless we make efforts, we cannot satisfy wants. Hence, wants, efforts and satisfaction form the circle of economics. Thus, the science of economics focuses around want - effort - satisfaction.

Onion is a major global commodity, but its value chain is characterized by price volatility, post-harvest losses, fragmented marketing and wide differences between farm-gate and retail prices. This chapter analyses production, trade, marketing and supply-chain trends from global and Indian perspectives. It examines India’s role as a leading producer and exporter and discusses the APMC system, intermediaries, storage deficiencies, Farmer Producer Organisations and export-policy interventions. Digital platforms and technologies—including e-NAM, blockchain traceability, IoT-enabled storage and artificial-intelligence-based price forecasting—are considered for improving transparency, efficiency and coordination. Strategic interventions are proposed to create a more resilient, inclusive, competitive and technology-enabled onion economy

Abstract

India is the prevalent prime producer of moringa [drumstick] with an annual production of 2.2 million tonnes of tender fruits from an area of 38,000 ha. Among the states, Andhra Pradesh leads in both area and production [15,665 ha] followed by Karnataka [10,280 ha] and Tamil Nadu [7,408 ha]. In other states, it occupies an area of 4,613 ha. Tamil Nadu is the pioneering state in so much as it has varied genotypes from diversified geographical areas, as well as introductions from Sir Lanka. Farmers found that growing moringa crops during summer season was remunerative. Thus, moringa gained a foothold as a summer vegetable. Its unique flavour and aroma became very popular. For South Indian any meal without moringa and pulses is considered incomplete. The demand for the moringa pod also increased due to increased urban settlements and migration of people to urban colonies. Based on the significance of moringa in the human diet this study might more viable with the specific objectives of to assessing the marketing strategies for promotion Periyakulam annual moringa seeds in Tamil Nadu.

Marshall was the frst to establish the idea of elasticity. According to the law of demand, if the price increases, fewer units will be sought for. But it’s crucial to know how much less will be expected of it. Such inquiries are crucial when formulating public policy. For instance: A price rise for salt might not have much of an effect on demand, but a price increase for TV will have more of an effect. Why? The idea of elasticity provides an answer to such queries. In economics, the concept of “elasticity” is frequently used to describe how responsive one variable is to changes in another.:

Elasticity of demand

Demand elasticity generally refers to demand’s sensitivity to price. However, there are as many levels of elasticity as there are demand determinants. The most important Elasticities are:

Determinants of demand Elasticity

Technology Scouting and Innovations in Technology Incubation
Technology scouting and innovations in technology incubation have a symbiotic relationship, fuelling each other for the benefit of budding startups and the broader technology ecosystem. Let’s dive deeper into their individual roles and how they interact:
Technology Scouting
Technology Scouting is the process of discovering, analyzing and evaluating new or existing technologies that will help them with their innovation process. In simple terms, it is a process for companies to find the necessary technology outside the company.
Hunting for promising technologies: Scouts actively search for emerging technologies, patents, research advancements, and market trends across various sectors.
Evaluating potential and fit: They assess the technical feasibility, market potential, and compatibility with the needs of incubators and their supported startups.
Connecting innovators and ventures: Scouts bridge the gap between technology creators (researchers, inventors, startups) and potential users (incubators, established companies).
Fuelling innovation pipelines: Technology scouting helps incubators access a wider range of technologies and ideas, enriching their portfolio and diversifying the innovations supported.

Introduction

Pedagogy in higher education is often referred to as activities of educating, instructing or teaching to impart knowledge and skills (Diaz, 2013). With the onset of the Covid-19 pandemic in the year 2020, instructors worldwide faced a challenge in maintaining the teaching pedagogy suited to the online teaching environments. Many instructors with no prior experience teaching online started developing new approaches to solve the challenges in a changing landscape. The main challenges to solve was concerning creating favourable learning experiences, creating engaging classroom experiences, and meeting the expectations of all the students in the online environment (Teachonline, 2020). The internet has provided a wide range of opportunities, leading to uninterrupted education through various conferencing platforms. Since the year 2000, the proliferation of Web 2.0 was tested in the field of education with several tools such as blogs, wiki articles and use of social media channels. Web 2.0 provided increasing scope to the teachers and students to create, edit and share content which is appealing to the learners. Currently, we have entered the Web 3.0 era in which the technologies can be customized to enhance the learning environment for better facilitation of learning needs.

Intelligent healthcare is advancing through the integration of multimodal data, trustworthy AI, federated learning, digital twins, IoT devices and real-time decision-support systems. This chapter reviews the evolution of healthcare-data analysis and examines emerging methods for intelligent diagnosis and predictive care. It discusses explainability, privacy-preserving analytics, interoperability, data governance and ethical frameworks necessary for responsible implementation. Wearable technologies and connected sensors support continuous monitoring, while human–AI collaboration improves clinical decision-making. Case studies illustrate practical healthcare applications and implementation strategies. The chapter also considers global-health requirements, particularly in developing countries, and identifies future opportunities for scalable, equitable, secure and clinically effective intelligent healthcare systems.

The present study sought to empirically examine the perceived effects of contract farming on employment generation and poverty reduction. This was achieved by operationalising the construct through its technical, economic and social dimensions. Furthermore, the study explored relational linkages between the perceived effects of contract farming and the socio-economic attributes of farmers in the Cooch Behar district of West Bengal.
Distribution of respondents according to Age (X01), n=100
Interpretation: The obtained results reveal that the overall age ranges from 23 to 54 years, with a mean of 40.63 years and a standard deviation of 08.05. The coefficient of variation (C.V.) was 19.81%, indicating a relatively high level of uniformity in the age profile. A majority of respondents (62.00%) were middle-aged (34-49 years), followed by young farmers (23.00%) and a smaller proportion of older farmers (15.00%).
This suggests that the study area is predominantly characterised by young and middle-aged farmers. the relevance of age in contract farming is noteworthy, as active participation requires physical involvement, frequent training on modern farming practices and regular interactions with company representatives and vendors for input supply and technical guidance. Consequently, older farmers, often accustomed to traditional practices, may display relatively lower interest in contractual arrangements.
Distribution of respondents according to education (X02), n=100
Interpretation: The educational status of respondents ranged from a score of 02 to 17, with a mean of 08.47 and a standard deviation of 03.18. The relatively high coefficient of variation (37.54%) indicates lower consistency in educational attainment. A vast majority (75.00%) fell within the medium educational category, while 21.00 % had low education and only 04.00% possessed higher education. This indicates that the farming population is largely dominated by low to moderately educated farmers. The negligible representation of highly educated individuals in contract farming may be attributed to their scepticism about

Introduction

BOGL had set up its wholly owned subsidiary company Bikas Oil Inc. (BOI), Moscow, Russia. Mr. Atanu Saxena and Mr. Samish Batra were recently selected for being deputed to BOI. Being a foreign location, this posting was considered as monetarily rewarding and good for career growth of employees. Subsidiaries of other oil and gas companies were also present in Moscow as this location was considered as the oil and gas business hub of Russia.

Introduction

Labour markets, poverty and inequality in the growth process
 
The theoretical discussion on the changes in the incidence of poverty and inequality in the growth process of agrarian economies from low levels of income has been a major topic in development economics. The impact of growth is delineated through the labour market, and any predictions about the impact on poverty and inequality must be based on some implicit or explicit view of the structure of labour markets and their functioning.

The digital revolution has brought profound changes to numerous industries, and agriculture is no exception. Cyber Extension, which leverages Information and Communication Technologies (ICTs), plays a pivotal role in providing extension services and disseminating vital agricultural information to farmers. This discussion will explore the intricacies of Cyber Extension, highlighting its significance, applications, and impact on modern agricultural practices.

Transformation of Extension Services

• Traditional extension services relied on direct interactions between extension agents and farmers. While these face-to-face meetings were effective, they often struggled with challenges such as limited reach, high operational costs, and scalability issues.

• The introduction of ICTs has revolutionized extension services, giving rise to the concept of Cyber Extension.

Core Elements of Cyber Extension

• Digital Platforms: Cyber Extension leverages a variety of digital platforms, including websites, mobile apps, social media, and online forums, to share agricultural knowledge and engage with farmers.

• Remote Sensing and GIS: Advanced technologies like remote sensing and Geographic Information Systems (GIS) provide farmers with real time information on weather conditions, soil moisture levels, crop health, and pest infestations.

• ICT Devices: Devices such as mobile phones and tablets allow farmers to access extension services, receive advisory messages, and join virtual training sessions from any location at any time.

• Mobile Technology: Mobile phones and text messaging services deliver crucial information directly to farmers, including advisory messages, weather alerts, market prices, and other pertinent updates.

• E-Learning: Cyber Extension supports e-learning through modules, webinars, and online courses, educating farmers on best practices, crop management techniques, and market trends.

• Decision Support Systems: Tools and expert systems assist farmers in making informed choices regarding crop selection, irrigation schedules, fertilizer use, and pest management strategies.