Side businesses along with farming are now the new need of farmers. Farmer’s life in India is not easy being an agricultural hub. Problems like drought or floods that destroy their crops, subsidy issues, transportation problems, etc. The most important problem is money. As 60% of farmers can not sustain with the earning from farming only. So to fulfill their needs they have to find something to support them financially.
Agriculture in India is leading to a crisis situation. In recent years, the rate of agricultural output is seen to be declining. Also, the relative contribution o agriculture to the GDP was also declining.
India is moving towards a point of no return, from being a self-reliant nation of food surplus to a net importer of food. This concludes that India is facing a crisis today in the agriculture sector. This is because of the shift from agriculture to other enterprises as it seems to be a more profitable sector. Its because the income from the agriculture sector is not sufficient enough to meet the expenses for the process of cultivation.
According to the Economic Times in India, more than 80% of India’s farmers work in less than 5 acres of land. Small farmers contribute around 50% of agricultural input. Small farmers are a vital element of the agricultural industry. Despite this, farming remains an unstable and difficult profession. That’s why to tackle the financial crisis farmers have to find a helping hand in the form of side business.
Production problems lead to low quality of farmer’s life. The reasons for farmer debts are increased cost of cultivation, inadequate irrigation, drought, flood, and crop failure. Additionally, difficulty in selling within the market can make or break the income of a farmer.
Agricultural costs and unstable incomes lead many farmers to take on even more debt.
Furthermore, money-lending due to necessity and often the inability to pay back loans, have pushed farmers further into poverty and debt.
Debts: As the Economic Times in India stated, only about 50% or less of the household income of a farming family comes from farming, while the rest comes from other sources. The rising costs of farming whereas low pricing for farm produce have pushed many farmers into a cycle of vicious debts. Therefore, farmers have to find some other side businesses along with farming.
1. Fruit Canning and Jam Production Business:
If farmers cultivate fruits then they can sell them to food companies and also to consumers directly. You can make jam or jelly with these fruits. Also, fruit juice can be sold at various markets.
2. Spice Production Business:
Farmers can also do spice production business along with farming, and in this way, they can earn really good profits by selling spices in the market. This is a very good business for small farmers.
3. Soy Production Business:
Soy is used in making many types of products. If you start this business then you can sell its products to various companies. This business will make you earn very good profits.