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Socio-Economics of Herbal Industrial Units in Punjab

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Sukhjinder Singh and Sharanjit Singh Dhillon

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The Indian Journal of Economics and Development
Year : 2018, Volume : 14, Issue : 3
First page : ( 448) Last page : ( 455)
Print ISSN : 2277-5412. Online ISSN : 2322-0430.
Article DOI : 10.5958/2322-0430.2018.00156.7

Socio-Economics of herbal industrial units in Punjab

Singh Sukhjinder1,*, Dhillon Sharanjit Singh2
1Senior Technical Officer, Business Development and Marketing Unit, C.S.I.R. I.H.B.T, Palampur-176 061 (H.P.)

2Professor of Economics, Punjab School of Economics, Guru Nanak Dev University, Amritsar-143 005 (Punjab)

*Corresponding author’s E-mail: sukhjinder.plp@gmail.com

JELCodes O13, O14, O22, O25.

Online published on 27 September, 2018.

Abstract

The study was designed to investigate the economics of herbal industrial units in Punjab. Most of the herbal industries are organized as a sole proprietorship, a partnership, as a co-operative society, and a private limited company. Most of the entrepreneurs of herbal industrial units in Punjab were having experience between 21 to 30 years. As an entrepreneur of the herbal industry having education in Ayurvedic medicine system was high as compared to those not having education in Ayurvedic medicine system. Profitability analysis revealed that herbal processing industry is a profitable venture. Multiple regression analysis showed that explanatory variables positively affecting the gross return of the herbal industry were found to be; expenses on raw material. Certain issues related to the herbal industry like maintenance schedule of machines, raw material, human resources, marketing channels etc. were studied.

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Keywords

Cost, herbal industry, multiple regressions, net returns, socio-economic characters.

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