Tuesday, December 23, 2008

An engineer from IIT, now a farmer

http://specials.rediff.com/money/2008/dec/23slide1-an-engineer-from-iit-now-a-farmer.htm

Madhavan, a mechanical engineer who garduated from IIT Madras worked for ONGC for 9 years, saved enough money to buy 6 acres of land and started farming on that land. He started making a profit only after 4 years partly because of the time it took him to get the required know-how. He says it took him 4 years in the 90s to get the know-how but can do the same in 6 months now given the current communication and information facilities. He has a net annual income of 50,000 from 1 acre. He is trying to make improvements so that that figure will become 100,000 from 1 acre. He currently has 10 acres of land and comes into the small-farms category. He mentions the lack of tools for small farmers.
If more food is produced per acre, the cost per acre will go down, reducing the cost per every meal, which he says is very high today in India, when compared to the US.

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