The authorities on Thursday introduced integration of buying and selling, transportation, logistics, warehousing, assaying, packaging, climate forecast and fintech providers offered by 41 non-public entities with its digital National Agriculture Market (e-NAM), a transfer that will make extra farmers use the net platform to promote their produce to patrons of their selection.
More than 17.6 million registered farmers, farmer producer organisations (FPOs), merchants, fee brokers and different stakeholders registered with the eNAM platform can avail these providers offered by these non-public enterprises.
Entities whose digital platforms which have been built-in with eNAM embody Star Agrobazaar Technology, Kisan Network, FPO Bazaar, Arya collateral, Aryadhan, Intello Lab, Bijak and Warehousing Development Regulatory Authority.
Agriculture minister Narendra Singh Tomar formally launched the e-NAM platform-of-platforms by stating that this may enhance on-line commerce and guarantee higher value discovery by the platform.
According to an official with Small Farmers’ Agri-Business Consortium (SFAC), which operates the eNAM, the goal behind this integration of platforms by non-public gamers underneath e-NAM is to make accessible end-to-end providers to farmers together with offering a platform for value discovery.
The official stated that SFAC is aiming at bringing on board as many gamers in order that farmers have the selection to take agri-services after registering with e-NAM portal.
“Integration of our embedded fintech platform with eNAM will enable access to finance for historically excluded small farmers and strengthen them socioeconomically,” Prasanna Rao, co-founder and CEO, Arya.ag, an agri-fintech platform, instructed FE.
Currently, 1,000 mandis in 22 states and Union territories are built-in into the e-NAM platform, which was launched in April 2016. At current, 17.3 million farmers, 2100 FPOs, 0226 million merchants and round 0.1 million fee brokers are registered with e-NAM.
However solely 586 mandis are at present offering on-line buying and selling providers to farmers principally inside the states. Inter-state commerce in farm produce — a facility for a farmer in a single state to promote his produce to patrons in one other state — is but to assemble momentum. This is without doubt one of the chief targets of this platform for value discovery.
Because of small land holding of the farmers, SFAC has been focussing on formation of FPOs and inspiring them take part within the e-NAM platform for collective bargaining energy. SFAC launched FPO buying and selling module throughout covid-19 restrictions to allow FPOs to add their produce from assortment centres, farm gate with image and high quality parameter for on-line bidding, with out bodily bringing their produce to the mandis.
Meanwhile, SFAC has empaneled non-public banks reminiscent of Axis Bank, Kotak Mahindra Bank, HDFC Bank, Indusind Bank and ICICI Bank for provisioning of fee and settlement providers for e-NAM transactions.
The empanelment of those banks allows collections and settlement of funds to varied e-NAM registered beneficiaries throughout the nation.
Source: www.financialexpress.com”