India being an agrarian economy accounts for almost 14% of the GDP. It provides employment to almost half of the country’s population in one form or another. Agriculture is the backbone of Indian economy but unfortunately growing at a rate of only 1.4% during 2012-13 ^[1] before liberalisation and globalisation of India the demand for agricultural products was inelastic in nature as till 1990 the Indian economy was closed economy and substantial demand for agricultural products of new-born babies occurs after at least five years of their birth. But with the globalisation, urbanisation, income growth and changing consumption patterns, the demand for agricultural products is rapidly growing requiring a much needed impetus to the agricultural sector. Also diversification of demand for agricultural products’ is further fuelling the increased demand. Another aspect of economy is that the higher growth rate in secondary and tertiary sectors have increased the income of people employed in the sectors resulting enhancement in their living standard, changes in their taste and preferences toward high quality products, changes in their life style and purchasing behaviour. These changes, globalization and rapidly increasing population pose challenge before the agriculture sector to increase productivity and production as well as create opportunities to people employed in this sector. Hence, the present focus of production and its consumption is shifting towards high-value commodities. There are also some bottle-necks like energy and bio fuels, growing water scarcity and climate change, etc. hindering the supply of agricultural products thereby widening the gap between demand and supply of agricultural products.