How to Start an Agricultural Business in India?
There are a number of important steps to consider before starting a agricultural business outlined below: –
Agrobusiness is hard work, and it requires great effort. Before starting any business, you should do some research on a specific market. This step helps you understand the market and the business, which you plan to enter. If you are a person who wants to review everything about his business and usage.
The market research step should have clear answers to the following questions: –
1. What is the future of the market?
2. What kind of problems do consumers face?
3. How do you see yourself in this market?
4. How difficult or easy is the law?
Create a Business Plan
Programs play a very important role in business. It is an approach that embraces the whole business. Therefore, before starting any business, you should make a plan that works. Research makes this process easier.
Check Business Law
You should check both federal and provincial laws and regulations. These rules are based on distribution plans, pricing, marketing, staff management etc. These rules and regulations are:-
Indian Contract Act, 1872 –
“All agreements are contracts if they are made by the free consent of parties competent to contract, for a lawful consideration and with a lawful object, and are not hereby expressly declared to be void”.
Factories Act, 1948 –
Provides safeguard for workers to protect health, provides for safety at the workplace when dealing with machinery, improves the physical conditions of the workplace, and provides welfare amenities. Only factories are covered by the Act.
Minimum Wages Act, 1948-
The object of this Act is to promote the welfare of workers by fixing minimum rates of wages in certain industries where labor is not organized and sweated labor is most prevalent.
Companies Act, 1956 –
Enabled companies to be formed by registration, and set out the responsibilities of companies, their directors and secretaries.
Trademark Act, 1958 –
The overall purpose of trademark law is to prevent unfair competition by protecting the use of a symbol, word, logo, slogan, design, domain name, etc. that uniquely distinguishes the goods or services of a firm.
Monopolies and Restrictive Trade Practices Act, 1969 –
The principal objectives sought to be achieved through the MRTP Act were: (a) Prevention of concentration of economic power to the common detriment; (b) Control of monopolies; (c) Prohibition of monopolistic trade practices; (d) Prohibition of restrictive trade practices; (e) Prohibition of unfair trade practices.
Water Act (Pollution Prevention and Control), 1974 –
A comprehensive legislation that regulates agencies responsible for checking on water pollution and ambit of pollution control boards both at the centre and states.
The Air (Prevention and Control of Pollution) Act, 1981 –
What is the main aim of the pollution Prevention and Control Act?The main concerns are permits and control of emissions for a list of polluting industries. IPPC aims to get the best technical option to prevent emissions to air, water and ground.
These are big rules that are important for the agricultural farm business in India.
Registered Business and Licensed
In this step, you must obtain a business license and registration. The types of company registration are Proprietorship, Partnership, Limited Liability Partnership, Private Limited, and Public Limited. You can take the registration by visiting the company registrar.
Here are four steps you can take to begin the process of preparation for mediation
⦁ Obtaining a Digital Signature Certificate (DSC)
2. Obtaining an administrator ID number (DIN)
3. Completing ‘eForm’ or ‘New User Registration.’
4. Installing a company.
By registering, you get your first license.
These are the best farming businesses in India that offer good profits.
Do read about our beloved Winter Vegetables.