DESCRIPTION OF COURSES

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AG ECON 641 INSTITUTIONAL AND LEGAL ENVIRONMENT FOR AGRIBUSINESS                                                                            (2L + 0P) I

Objective
  The course provides an insight into the legal and institutional aspects that impact the efficiency and performance of agribusiness organisations

Theory

UNIT I
  The Indian legal system an overview. The Indian Contract Act (1872): Meaning, nature, and scope; types of contracts; essentials of a valid contract, offer and acceptance, capacity to contract, free consent, performance of contract. Issues in international business transactions: International Sale of Goods, The Sales Contract, Letters of Credit, Foreign Direct Investment, Protection of intellectual property, Dispute Resolution

UNIT II
  Companies Act (1956): Incorporation, commencement of  business, types of  companies, management, winding up of companies; Negotiable Instruments Act. Factory Act, Labour laws, Industrial dispute Act.

UNIT III
  Management systems for food quality and safety: Regulatory provisions and acts: Essential Commodities Act, APMC Act, Consumer Protection Act, RTI Act, MRTP Act. Regulations related to food safety, hygiene and quality: national (FPO (1955), PFA, Food Safety and Standards Act (2006), and other Acts related to fruits, meat, milk, grading and standardization (AGMARK) and international (sanitary and phyto-sanitary requirements, Codex, ISO, HACCP, Good Manufacturing Practices (GMP) and Good Agricultural Practices (GAP))

UNIT IV
  Role of institutions in agribusiness: Ministry of Food Processing Industries, Ministry of Food and Consumer Affairs, Product Boards, Export Promotion Council, Food Safety and Standards Authority, India, etc. International institutions facilitating agribusiness. Provisions related to FDI in agriculture and food production and distribution;

UNIT V
  Nature and importance of ethics and moral standards; corporations and social responsibilities, scope and purpose of business ethics; Ethics in business functional areas; industrial espionage; solving ethical problems; governance mechanism.

Suggested Readings