Farming: A Profitable Industry

Farming: A Profitable Industry

The business of livestock farming and animal farming in India is a promising one, it plays an important role in the Indian economy. A major advantage of livestock farming is that you can start it from your backyard or as small or as large a scale you want. Livestock represents the one and only way in which the natural vegetation, that covers large parts of India, can be converted into protein products that can be used by humans. The team of NIIR Project Consultancy Services (NPCS) also found out that the production of milk is anticipated to grow from about 3 to 4 % each year. There is a huge increase in the number of people who want to get into a small scale or large scale dairy farming business. Another profitable business is poultry farming as it gives good returns for the amount invested, time, and efforts spent in it. This is one of the businesses that require less investment in comparison to other rearing livestock. It requires only around Rs 10,000/- on fixed capital; which means that small and marginal farmers and also agricultural laborers can start farming on a small scale.

20.5 million people are dependent on livestock for their livelihood. Livestock alone contributes 16% to the income of small farm households as against an average of 14% for all rural households. Livestock provides livelihood to two-third of the rural community. Not only has this, in India, had it also employed about 8.8% of the population. The sector of livestock contributes 4.11% GDP and 25.6% of total agriculture GDP.

The precision livestock farming market is estimated to be worth USD 3.0 billion in 2019 and is expected to reach USD 4.6 billion by 2024, at a CAGR of 9.2% from 2019 to 2024.

Business Opportunities

Dairy Farming - In India the average milk production is 78million tons per annum. If you plan to start your business in Dairy farming, you need to focus on some major concepts such as planning, creating cropping, feeding programs, financial planning, and marketing. The major products of the business are milk, meat, and leather.

Rabbit farming – The rabbit can be a great source of food production. There are great opportunities in rabbit farming and commercial production is very high. Rabbit farming can be a great source of income and employment. As rabbits are small size animals it doesn’t need a large area in rabbit farming.

Sheep Farming – The most lucrative aspect of this business is you don’t need huge capital investment to start a sheep farming business. There is a rapid growth in the industry of sheep farming. This growth is driven by the increasing demand for livestock products, population growth, urbanization, and the increasing incomes in most developing countries.

Poultry Farming - The production of eggs and meat is rising at a rate of 8 to 10% annually. There are several opportunities in the area of poultry sector like breeding, medication, vertical integration, etc. If you enter this industry you need to keep in mind the needs of the consumers and the entire poultry value system.

Goat Farming - Before you start this business make a proper plan, it is a proven highly profitable business idea. You get a high profit in a very short span and little investment. The huge global demand is one of the main reasons for spreading this business rapidly throughout the world.

Conclusion

The book by NPCS “Profitable Farming & Allied Projects (2nd Revised Edition)” contains different factors from livestock farming, dairy farming, yarn from wool, and a lot of other information about framing. Not only about farming you get the project report that contains the information of properties, land, and building with different flow charts and process charts and total cost of projects.

Tags:- #DetailedProjectReport #businessconsultant #BusinessPlan #feasibilityReport #NPCS #entrepreneurindia #startupideas #agriculture #farmingbusiness #farmingindustry #farmingproduction