Differentiate between trade and commerce. Describe about agribusiness incubator and its importance in agribusiness activities?
Trade is referred to as a basic economic activity that involves buying and selling of different goods and services between two or more parties involved in the transaction. Commerce involves all the activities that aid in promoting the exchange of goods and services from the manufacturer to the last customers.
The Agri-Business Incubation (ABI) program is an initiative of ICRISAT under the Agribusiness and Innovation Platform (AIP) in partnership with the Department of Science and Technology (DST), Government of India, to promote public-private partnerships.
Incubators provide resources and services to entrepreneurs, including working space and offices, technical expertise, management mentoring, assistance in compiling an effective business plan, shared administrative services, technical support, business networking, and advice on intellectual property etc..