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Future of Agriculture as Commodity in India
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Transcript of Future of Agriculture as Commodity in India
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PREFACE
The liberalization of the Indian insurance sector has been the subject of much heated debate
for some years. The policy makers where in the catch 22 situation wherein for one they
wanted competition, development and growth of this insurance sector which is extremely
essential for channeling the investments in to the infrastructure sector. At the other end the
policy makers had the fears that the insurance premium, which are substantial, would seep
out of the country; and wanted to have a cautious approach of opening for foreign
participation in the sector.
As one of the rare occurrences the entire debate was put on the back burner and the IRDA
saw the day of the light thanks to the maturing polity emerging consensus among factions of
different political parties. Though some changes and some restrictive clauses as regards to the
foreign participation were included the IRDA has opened the doors for the private entry into
insurance.
Whether the insurer is old or new, private or public, expanding the market will present
multitude of challenges and opportunities. But the key issues, possible trends, opportunities
and challenges that insurance sector will have still remains under the realms of the
possibilities and speculation. What is the likely impact of opening up Indias insurance
sector?
The large scale of operations, public sector bureaucracies and cumbersome procedures
hampers nationalized insurers. Therefore, potential private entrants expect to score in the
areas of customer service, speed and flexibility. They point out that their entry will mean
better products and choice for the consumer. The critics counter that the benefit will be slim,
because new players will concentrate on affluent, urban customers as foreign banks did until
recently. This seems to be a logical strategy. Start-up costs-such as those of setting up a
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conventional distribution network-are large and high-end niches offer better returns.
However, the middle-market segment too has great potential. Since insurance is a volumes
game. Therefore, private insurers would be best served by a middle-market approach,
targeting customer segments that are currently untapped
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EXECUTIVE SUMMARY
In todays corporate and competitive world, I find that insurance sector has the maximum
growth and potential as compared to the other sectors. Insurance has the maximum growth
rate of 70-80% while as FMCG sector has maximum 12-15% of growth rate. This growth
potential attracts me to enter in this sector and RELIANCE LIFE INSURANCE has given me
the opportunity to work and get experience in highly competitive and enhancing sector.
The success story of good market share of different market organizations depends
upon the availability of the product and services near to the customer, which can be
distributed through a distribution channel. In Insurance sector, distribution channel
includes only agents or agency holders of the company. If a company like
RELIANCE LIFE INSURANCE, TATA AIG, MAX etc have adequate agents in the
market they can capture big market as compared to the other companies.
Agents are the only way for a company of Insurance sector through which policies
and benefits of the company can be explained to the customer.
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INSURANCE INDUSTRY IN INDIA
AN OVERVIEW
With the largest number of life insurance policies in force in the world, Insurance happens to
be a mega opportunity in India. Its a business growing at the rate of 15-20 per cent annually
and presently is of the order of Rs 1560.41 billion (for the financial year 2006 2007).
Together with banking services, it adds about 7% to the countrys Gross Domestic Product
(GDP). The gross premium collection is nearly 2% of GDP and funds available with LIC for
investments are 8% of the GDP.
Even so nearly 65% of the Indian population is without life insurance cover while health
insurance and non-life insurance continues to be below international standards. A large part
of our population is also subject to weak social security and pension systems with hardly any
old age income security
A well-developed and evolved insurance sector is needed for economic development as it
provides long term funds for infrastructure development and strengthens the risk taking
ability of individuals. It is estimated that over the next ten years India would require
investments of the order of one trillion US dollars.
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HISTORICAL PERSPECTIVE
The history of life insurance in India dates back to 1818 when it was conceived as a means to
provide for English Widows. Interestingly in those days a higher premium was charged for
Indian lives than the non - Indian lives, as Indian lives were considered more risky to cover.
The Bombay Mutual Life Insurance Society started its business in 1870. It was the first
company to charge the same premium for both Indian and non-Indian lives.
The Oriental Assurance Company was established in 1880. The General insurance business
in India, on the other hand, can trace its roots to Triton Insurance Company Limited, the first
general insurance company established in the year 1850 in Calcutta by the British. Till the
end of the nineteenth century insurance business was almost entirely in the hands of overseascompanies.
Insurance regulation formally began in India with the passing of the Life Insurance
Companies Act of 1912 and the Provident Fund Act of 1912. Several frauds during the 1920's
and 1930's sullied insurance business in India. By 1938 there were 176 insurance companies.
The first comprehensive legislation was introduced with the Insurance Act of 1938 that
provided strict State Control over the insurance business. The insurance business grew at a
faster pace after independence. Indian companies strengthened their hold on this business but
despite the growth that was witnessed, insurance remained an urban phenomenon.
The Government of India in 1956, brought together over 240 private life insurers and
provident societies under one nationalized monopoly corporation and Life Insurance
Corporation (LIC) was born. Nationalization was justified on the grounds that it would create
the much needed funds for rapid industrialization. This was in conformity with the
Government's chosen path of State led planning and development.
The non-life insurance business continued to thrive with the private sector till 1972. Their
operations were restricted to organized trade and industry in large cities. The general
insurance industry was nationalized in 1972. With this, nearly 107 insurers were
amalgamated and grouped into four companies- National Insurance Company, New India
Assurance Company, Oriental Insurance Company and United India Insurance Company.
These were subsidiaries of the General Insurance Company (GIC).
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KEY MILESTONES
1912: The Indian Life Assurance Companies Act enacted as the first statute to regulate the
life insurance business.
1928: The Indian Insurance Companies Act enacted to enable the government to collect
statistical information about both life and non-life insurance businesses.
1938: Earlier legislation consolidated and amended by the Insurance Act with the objective
of protecting the interests of the insuring public.
1956: 245 Indian and foreign insurers along with provident societies were taken over by the
central government and nationalized. LIC was formed by an Act of Parliament- LIC Act
1956- with a capital contribution of Rs. 5 crore from the Government of India.
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INDUSTRY REFORMS
Reforms in the Insurance sector were initiated with the passage of the IRDA Bill in
Parliament in December 1999. The IRDA since its incorporation as a statutory body in April
2000 has fastidiously stuck to its schedule of framing regulations and registering the private
sector insurance companies. Since being set up as an independent statutory body the IRDA
has put in a framework of globally compatible regulations.
The other decision taken simultaneously to provide the supporting systems to the insurance
sector and in particular the life insurance companies was the launch of the IRDA online
service for issue and renewal of licenses to agents. The approval of institutions for imparting
training to agents has also ensured that the insurance companies would have a trainedworkforce of insurance agents in place to sell their products.
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PRESENT SCENARIO - LIFE INSURANCE INDUSTRY IN INDIA
The life insurance industry in India grew by an impressive 47.38%, with premium income at
Rs. 1560.41 billion during the fiscal year 2006-2007. Though the total volume of LIC's
business increased in the last fiscal year (2006-2007) compared to the previous one, its
market share came down from 85.75% to 81.91%.
The 17 private insurers increased their market share from about 15% to about 19% in a year's
time. The figures for the first two months of the fiscal year 2007-08 also speak of the growing
share of the private insurers. The share of LIC for this period has further come down to 75
percent, while the private players have grabbed over 24 percent.
With the opening up of the insurance industry in India many foreign players have entered the
market. The restriction on these companies is that they are not allowed to have more than a
26% stake in a companys ownership.
Since the opening up of the insurance sector in 1999, foreign investments of Rs. 8.7 billion
have poured into the Indian market and 19 private life insurance companies have been
granted licenses.
Innovative products, smart marketing, and aggressive distribution have enabled fledgling
private insurance companies to sign up Indian customers faster than anyone expected.
Indians, who had always seen life insurance as a tax saving device, are now suddenly turning
to the private sector and snapping up the new innovative products on offer. Some of these
products include investment plans with insurance and good returns (unit linked plans), multi
purpose insurance plans, pension plans, child plans and money back plans.
(www.wikipedia.com)
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INTRODUCTION TO THE COMPANY
COMPANY PROFILE OF RELIANCE LIFE INSURANCE
FOUNDER
Few men in history have made as dramatic a contribution to their countrys economic
fortunes as did the founder of Reliance, Sh. Dhirubhai H Ambani. Fewer still have left behind
a legacy that is more enduring and timeless.
As with all great pioneers, there is more than one unique way of describing the true
genius of Dhirubhai: The corporate visionary, the unmatched strategist, the proud patriot,
the leader of men, the architect of Indias capital markets, the champion of shareholder
interest.
But the role Dhirubhai cherished most was perhaps that of Indias greatest wealth creator.
In one lifetime, he built, starting from the proverbial scratch, Indias largest private sector
enterprise.
When Dhirubhai embarked on his first business venture, he had a seed capital of barely
US$ 300 (around Rs 14,000). Over the next three and a half decades, he converted this
fledgling enterprise into a Rs 60,000 crore colossusan achievement which earned
Reliance a place on the global Fortune 500 list, the first ever Indian private company to
do so.
Dhirubhai is widely regarded as the father of Indias capital markets. In 1977, when
Reliance Textile Industries Limited first went public, the Indian stock market was a place
patronised by a small club of elite investors which dabbled in a handful of stocks.
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Undaunted, Dhirubhai managed to convince a large number of first-time retail investors
to participate in the unfolding Reliance story and put their hard-earned money in the
Reliance Textile IPO, promising them, in exchange for their trust, substantial return on
their investments. It was to be the start of one of great stories of mutual respect and
reciprocal gain in the Indian markets.
Under Dhirubhais extraordinary vision and leadership, Reliance scripted one of the
greatest growth stories in corporate history anywhere in the world, and went on to
become Indias largest private sector enterprise.
Through out this amazing journey, Dhirubhai always kept the interests of the ordinary
shareholder uppermost in mind, in the process making millionaires out of many of the
initial investors in the Reliance stock, and creating one of the worlds largest shareholder
families.
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ABOUT RELIANCE
Reliance Life Insurance Company Limited is a part of Reliance Capital Ltd. of the Reliance -
Anil Dhirubhai Ambani Group. Reliance Capital is one of Indias leading private sector
financial services companies, and ranks among the top 3 private sector financial services and
banking companies, in terms of net worth. Reliance Capital has interests in asset management
and mutual funds, stock broking, life and general insurance, proprietary investments, private
equity and other activities in financial services.
Reliance Capital Limited (RCL) is a Non-Banking Financial Company (NBFC) registered
with the Reserve Bank of India under section 45-IA of the Reserve Bank of India Act,
1934.
Reliance Capital sees immense potential in the rapidly growing financial services sector
in India and aims to become a dominant player in this industry and offer fully integrated
financial services.
Reliance Life Insurance is another step forward for Reliance Capital Limited to offer need
based Life Insurance solutions to individuals and Corporates.
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CORPORATE OBJECTIVE
At Reliance Life Insurance, we strongly believe that as life is different at every stage, life
insurance must offer flexibility and choice to go with that stage. We are fully prepared and
committed to guide you on insurance products and services through our well-trained advisors,
backed by competent marketing and customer services, in the best possible way.
It is our aim to become one of the top private life insurance companies in India and to
become a cornerstone of RLI integrated financial services business in India.
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CORPORATE MISSION
To set the standard in helping our customers manage their financial future.
BELOW ARE FEW OF THE PLANS THAT ARE OFFERED BY RELIANCE LIFE
INSURANCE
INSURANCE PLANS AVAILABLE
1. Products (Individual Plans)
Savings (Endowment)
2. Reliance Endowment Plan
(formerly Divya Shree)
3. Reliance Special Endowment Plan
(formerly Subha Shree)
4. Reliance Cash Flow Plan
(formerly Dhana Shree)
5. Reliance Child Plan(formerly Yuva Shree)
6. Reliance Whole Life Plan
(formerly Nithya Shree)
Pensions
7. Reliance Golden Years Plan
(formerly Bhagya Shree)
Investments
8. Reliance Market Return Plan
(formerly Kanaka Shree)
9. Risk / Protection
10. Reliance Term Plan
(formerly Raksha Shree)
Products (Group / Corporate Plans)
http://www.reliancelife.co.in/products/ind_REP.asphttp://www.reliancelife.co.in/products/ind_RSEP.asphttp://www.reliancelife.co.in/products/ind_RCFP.asphttp://www.reliancelife.co.in/products/ind_RCP.asphttp://www.reliancelife.co.in/products/ind_RWLP.asphttp://www.reliancelife.co.in/products/ind_RGYP.asphttp://www.reliancelife.co.in/products/ind_RMRP.asphttp://www.reliancelife.co.in/products/ind_RTP.asphttp://www.reliancelife.co.in/products/ind_REP.asphttp://www.reliancelife.co.in/products/ind_RSEP.asphttp://www.reliancelife.co.in/products/ind_RCFP.asphttp://www.reliancelife.co.in/products/ind_RCP.asphttp://www.reliancelife.co.in/products/ind_RWLP.asphttp://www.reliancelife.co.in/products/ind_RGYP.asphttp://www.reliancelife.co.in/products/ind_RMRP.asphttp://www.reliancelife.co.in/products/ind_RTP.asp -
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11. Risk (Protection )
Reliance Group Term Assurance Policy
(formerly Group Term Assurance Policy)
Reliance EDLI Scheme
(formerly EDLI Scheme)
12. Pensions
a. Reliance Group Gratuity Policy(formerly Group Gratuity Policy)
b. Reliance Group Superannuation Policy(formerly Group Superannuation Policy)
13. Reliance Money Guarantee Plan
Tax Benefits
http://www.reliancelife.co.in/products/ebp_RCESP.asphttp://www.reliancelife.co.in/products/ebp_EDLI.asphttp://www.reliancelife.co.in/products/ebp_RCBP.asphttp://www.reliancelife.co.in/products/ebp_RCPP.asphttp://www.reliancelife.co.in/products/ebp_RCESP.asphttp://www.reliancelife.co.in/products/ebp_EDLI.asphttp://www.reliancelife.co.in/products/ebp_RCBP.asphttp://www.reliancelife.co.in/products/ebp_RCPP.asp -
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INCOME TAX
SECTION
GROSS ANNUAL
SALARY
HOW MUCH
TAX CAN YOU
SAVE?
HDFC STANDARD
LIFE PLANS
Sec. 80C Across All income
Slabs
Upto Rs. 33,990
saved on
investment of
Rs. 1,00,000.
All the life insurance
plans.
Sec. 80 CCC Across all income
slabs.
Upto Rs. 33,990
saved on
Investment of
Rs.1,00,000.
All the pension plans.
Sec. 80 D Across all income
slabs
Upto Rs. 3,399
saved on
Investment of
Rs. 10,000.
All the health insurance
riders available with the
conventional plans.
TOTAL SAVINGS
POSSIBLE Rs37,389
Rs. 33,990 under Sec. 80C and under Sec. 80 CCC , Rs.3,399 under
Sec. 80 D, calculated for a male with gross annual income
exceeding Rs. 10,00,000.
OTHER COMPETITIORS
Sec. 10 (10)D Under Sec. 10(10D), the benefits you receive are completely tax-free,
subject to the conditions laid down therein.
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MAJOR PLAYERS IN THE INSURANCE INDUSTRY IN INDIAMAJOR PLAYERS IN THE INSURANCE INDUSTRY IN INDIA
Life Insurance Corporation of India (LIC)
Life Insurance Corporation of India (LIC) was established on 1 September 1956 to spread the
message of life insurance in the country and mobilise peoples savings for nation-building
activities. LIC with its central office in Mumbai and seven zonal offices at Mumbai, Calcutta,
Delhi, Chennai, Hyderabad, Kanpur and Bhopal, operates through 100 divisional offices in
important cities and 2,048 branch offices. LIC has 5.59 lakh active agents spread over the
country.
The Corporation also transacts business abroad and has offices in Fiji, Mauritius and United
Kingdom. LIC is associated with joint ventures abroad in the field of insurance, namely, Ken-
India Assurance Company Limited, Nairobi; United Oriental Assurance Company Limited,
Kuala Lumpur; and Life Insurance Corporation (International), E.C. Bahrain. It has also
entered into an agreement with the Sun Life (UK) for marketing unit linked life insurance and
pension policies in U.K.
In 1995-96, LIC had a total income from premium and investments of $ 5 Billion while GIC
recorded a net premium of $ 1.3 Billion. During the last 15 years, LIC's income grew at a
healthy average of 10 per cent as against the industry's 6.7 per cent growth in the rest of Asia
(3.4 per cent in Europe, 1.4 per cent in the US).
LIC has even provided insurance cover to five million people living below the poverty line,
with 50 per cent subsidy in the premium rates. LIC's claims settlement ratio at 95 per cent
and GIC's at 74 per cent are higher than that of global average of 40 per cent. Compounded
annual growth rate for Life insurance business has been 19.22 per cent per annum
General Insurance Corporation of India (GIC)
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The general insurance industry in India was nationalized and a government company known
as General Insurance Corporation of India (GIC) was formed by the Central Government in
November 1972. With effect from 1 January 1973 the erstwhile 107 Indian and foreign
insurers which were operating in the country prior to nationalization, were grouped into four
operating companies, namely, (i) National Insurance Company Limited; (ii) New India
Assurance Company Limited; (iii) Oriental Insurance Company Limited; and (iv) United
India Insurance Company Limited. (However, with effect from Dec'2000, these subsidiaries
have been de-linked from the parent company and made as independent insurance
companies). All the above four subsidiaries of GIC operate all over the country competing
with one another and underwriting various classes of general insurance business except for
aviation insurance of national airlines and crop insurance which is handled by the GIC.
Besides the domestic market, the industry is presently operating in 17 countries directly
through branches or agencies and in 14 countries through subsidiary and associate
companies.
IN ADDITION TO ABOVE STATE INSURERS THE FOLLOWING HAVE BEEN
PERMITTED TO ENTER INTO INSURANCE BUSINESS: -
The introduction of private players in the industry has added to the colors in the dull industry.
The initiatives taken by the private players are very competitive and have given immense
competition to the on time monopoly of the market LIC. Since the advent of the private
players in the market the industry has seen new and innovative steps taken by the players in
this sector. The new players have improved the service quality of the insurance. As a result
LIC down the years have seen the declining phase in its career. The market share was
distributed among the private players. Though LIC still holds the 75% of the insurance sector
but the upcoming natures of these private players are enough to give more competition to LIC
in the near future. LIC market share has decreased from 95% (2002-03) to 82 %( 2004-05).
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1. HDFC Standard Life Insurance Company Ltd.
HDFC Standard Life Insurance Company Ltd. is one of Indias leading private life insurance
companies, which offers a range of individual and group insurance solutions. It is a joint
venture between Housing Development Finance Corporation Limited (HDFC Ltd.), Indias
leading housing finance institution and The Standard Life Assurance Company, a leading
provider of financial services from the United Kingdom. Their cumulative premium income,
including the first year premiums and renewal premiums is Rs. 672.3 for the financial year,
Apr-Nov 2005. They have managed to cover over 11,00,000 individuals out of which over
3,40,000 lives have been covered through our group business tie-ups.
2. Max New York Life Insurance Co. Ltd.
Max New York Life Insurance Company Limited is a joint venture that brings together two
large forces - Max India Limited, a multi-business corporate, together with New York Life
International, a global expert in life insurance. With their various Products and Riders, there
are more than 400 product combinations to choose from. They have a national presence with
a network of 57 offices in 37 cities across India.
3. ICICI Prudential Life Insurance Company Ltd.
ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, a premier
financial powerhouse and Prudential plc, a leading international financial services group
headquartered in the United Kingdom. ICICI Prudential was amongst the first private sector
insurance companies to begin operations in December 2000 after receiving approval from
Insurance Regulatory Development Authority (IRDA). The company has a network of about
56,000 advisors; as well as 7 banc assurance and 150 corporate agent tie-ups.
4. Om Kotak Mahindra Life Insurance Co. Ltd.
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Kotak Mahindra Old Mutual Life Insurance Ltd. is a joint venture between Kotak Mahindra
Bank Ltd. (KMBL), and Old Mutual plc.
5.Birla Sun Life Insurance Company Ltd.
Birla Sun Life Insurance Company is a joint venture between Aditya Birla Group and Sun
Life financial Services of Canada.
Tata AIG Life Insurance Company Ltd.
SBI Life Insurance Company Limited
ING Vysya Life Insurance Company Private Limited
Allianz Bajaj Life Insurance Company Ltd.
Metlife India Insurance Company Pvt. Ltd.
AMP SANMAR Assurance Company Ltd.
Dabur CGU Life Insurance Company Pvt. Ltd.
1. Royal Sundaram Alliance Insurance Company
The joint venture bringing together Royal & Sun Alliance Insurance and Sundaram Finance
Limited started its operations from March 2001. The company is Head Quartered at Chennai,
and has two Regional Offices, one at Mumbai and another one at New Delhi.
2. Bajaj Allianz General Insurance Company Limited
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Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj Auto
Limited and Allianz AG of Germany. Both enjoy a reputation of expertise, stability and
strength.
Bajaj Allianz General Insurance received the Insurance Regulatory and Development
Authority (IRDA) certificate of Registration (R3) on May 2nd, 2001 to conduct General
Insurance business (including Health Insurance business) in India. The Company has an
authorized and paid up capital of Rs 110 crores. Bajaj Auto holds 74% and the remaining
26% is held by Allianz, AG, Germany.
3. ICICI Lombard General Insurance Company Limited
ICICI Lombard General Insurance Company Limited is a joint venture between ICICI Bank
Limited and the US-based $ 26 billion Fairfax Financial Holdings Limited. ICICI Bank is
India's second largest bank, while Fairfax Financial Holdings is a diversified financial
corporate engaged in general insurance, reinsurance, insurance claims management and
investment management.
Lombard Canada Ltd, a group company of Fairfax Financial Holdings Limited, is one of
Canada's oldest property and casualty insurers. ICICI Lombard General Insurance Company
received regulatory approvals to commence general insurance business in August 2001.
4. Cholamandalam General Insurance Company Ltd.
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Cholamandalam MS General Insurance Company Limited (Chola-MS) is a joint venture of
the Murugappa Group & Mitsui Sumitomo.
Chola-MS commenced operations in October 2002 and has issued more than 1.4 lakh policies
in its first calendar year of operations. The company has a pan-Indian presence with offices in
Chennai, Hyderabad, Bangalore, Kochi, Coimbatore, Mumbai, Pune, Indore, Ahmedabad,
Delhi, Chandigarh, Kolkata and Vizag.
5. TATA AIG General Insurance Company Ltd.
Tata AIG General Insurance Company Ltd. is a joint venture company, formed from the Tata
Group and American International Group, Inc. (AIG). Tata AIG combines the strength and
integrity of the Tata Group with AIG's international expertise and financial strength. The Tata
Group holds 74 per cent stake in the two insurance ventures while AIG holds the balance 26
per cent stake.
Tata AIG General Insurance Company, which started its operations in India on January 22,
2001, offers the complete range of insurance for automobile, home, personal accident, travel,
energy, marine, property and casualty, as well as several specialized financial lines.
Reliance Policies
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(1) Reliance Children Plans
What could make you happier than knowing, that your child's future is secure? Nothing, we
suppose. Which is why, Reliance Life Insurance brings to you Reliance Secure Child Plan, a
unit-linked Insurance Plan, that gives you the freedom to enjoy today with your child,
because his tomorrow is in safe hands.
Do you see your child becoming a trailblazer?
Will they create the ultimate symphony or give sports a new dimension?
Our children may just be the ones to end the arms race and wipe out poverty from the face of
the Earth. But for them to be able to aim for the skies, YOU NEED TO ACT NOW!
Introducing Reliance Secure Child Plan - a unique life insurance cum savings plan. secure the
future of your child.
Key Features
Insurance cover on the life of child
Your child is completely protected - we will continue to pay the premiums
even if you are not alive
Life time income to child in the event of disability
Return Shield option to protect your investment returns
Liquidity in the form of partial withdrawals
Capital guarantee available on maturity and on death of the child for basic
and top-up premiums
Option to package with Accidental Death and Total and Permanent
Disablement Rider, Critical Conditions Rider and Term Life Insurance
Benefit Rider.
2)Reliance Health + Wealth Policy
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UNDER THIS PLAN THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS
BORNE BY THE POLICYHOLDER.
There are times when late working hours take precedence over your health check-ups. And
there are times when a visit to the doctor seems more important than dividends on your
shares. In the rat race to make money, we often forget to take care of ourselves.
We understand this predicament. Here is a plan that will ensure that your wealth keeps
increasing constantly and yet your health does not take a backseat. The Reliance Wealth
Health Plan. A plan that gives you the benefits of wealth bhi. health bhi.
Life changes. And as it does, so do your priorities. After all, the circumstances of your life
can determine the type of health coverage you need.
India has made rapid strides in the health sector. Since Independence, life expectancy has
gone up markedly and survival rates have also increased, still critical health issues remain.
Infectious diseases continue to claim a large number of lives.
Reliance Wealth + Health Plan, a health insurance plan underwritten by Reliance Life
Insurance Company Limited, is designed to work in conjunction with contributions towards
savings.
Key Feature
A Unit Linked plan with Unique Savings Component
Twin benefit of market linked return and health protection
Choose from two different plan options
Flexibility to take care of your familys health
Flexibility to switch between funds / plan options
Option to pay Top-ups
(3) Reliance Pension Policy
UNDER THIS PLAN THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO ISBORNE BY THE POLICYHOLDER.
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Retirement means different things to different people, while some want to relax and take a
trip around the world, some want to start up a venture of their own, and pursue a dream
harnessed for years. The power to make your autumn years special lies only with you. The
Reliance Super Golden Years Plan gives you the power and the right kind of solution - A
retirement plan that allows you to save systematically and generate the much-needed corpus
to make your olden years look golden.
Key Features Reliance Pension Policy :
Invest systematically and secure your golden years
A flexible unit-linked pension product that is different from traditional life
insurance products with Vesting Age between 45 & 70 years
Eight different investment funds to choose from
Flexibility to switch between funds
Option to pay Regular, Single as well as Top-up premiums
Flexibility to advance / extend your Vesting Age
Tax free commutation up to one third of Fund Value at Vesting Age
(4) Reliance Whole life insurance policy
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Youve always loved your family. As a loving person you want to be rest assured that they
will be happy, even if something were to happen to you. With Reliance Whole Life Plan you
can be sure that your family will receive that timely financial support they need.
Go ahead, live your today to the fullest, without a worry about tomorrow.
Key Features
Insurance protection till age 85
Choice of extending your insurance coverage till age 99
Convenient Premium Payment Term
Wealth creation through bonus additions
More value for your money by way of High Sum Assured Rebate Get Sum
Assured plus Bonuses in case of your unfortunate death
Option to add two Riders Critical Illness and Accidental Death Benefit and
Total and Permanent Disablement Rider
Policy Loan available after three full years premium payment
OBJECTIVE OF THE PROJECT :
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i) To find out factors affecting growth of agriculture sector.
ii) To find out the effects of decline in agriculture sector on the Indian economy.
iii) To find out solutions for the revival of Indian agriculture sector after analyzing
different Interventions adopted in India and different countries.
iv) To find out how Agro-Marketing can help in the revival of Indian agriculture
sector and how to use it for overall change in the agriculture sector?
OBJECTIVE AND SCOPE OF THE PROJECT
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OBJECTIVE OF THE PROJECT REPORT
To analyze the view of commodity traders.
To make understand the process of future commodity trading in India.
To know the investment pattern of commodity traders and people.
SCOPE OF THE PROJECT REPORT
For analyze the trading pattern and investment pattern of commodity
traders and government servants, I have taken data from the local area of the
Rajkot city.
COMMODITY
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INTRODUCITON
Keeping in view the experience of even strong and developed economies of the world,
it is no denying the fact that financial market is extremely volatile by nature. Indian
financial market is not an exception to this phenomenon. The attendant risk arising
out of the volatility and complexity of the financial market is an important concern
for financial analysts. As a result, the logical need is for those financial instruments
which allow fund managers to better manage or reduce these risks.
The emergence of the market for derivative products, most notably forwards, futures
and options, can be traced back to the willingness of risk-averse economic agents to
guard themselves against uncertainties arising out of fluctuations in asset prices.
By their very nature, the financial markets are marked by a very high degree ofvolatility. Through the use of derivative products, it is possible to partially or fully
transfer price risks by locking-in asset prices. As instruments of risk
management, these generally do not influence the fluctuations in the underlying
asset prices. However, by locking-in asset prices, derivative products minimize the
impact of fluctuations in asset prices on the profitability and cash flow situation of
risk-averse investors.
Description of the Project in Brief:
Since, 60% of Indian population still depends on agriculture sector and it provides
base for many of the industries so it becomes matter of great importance to have a substantial
growth in this sector. As,agriculture in India is not in the healthy situation so finding out the
factors responsible for this is very important. Not only this, but finding out the solutions for
the revival for the agriculture is also significant and in this regard to have a broader view on
the concept of Agro-Marketing and to find out the best possible use of Agro-Marketing for
the revival of agriculture sector is essential.
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