In the first part of this two-part series, we covered how enhanced cost efficiencies and farm productivity can boost the agricultural sector’s contribution to India becoming a $5 trillion economy by 2025.
On 23rd May 2019, the BJP-led NDA coalition rode back to power with a thumping majority thereby assuring India of a stable government for the next 5 years. Amongst other things, one of the primary challenges the new government faces is reviving the agriculture industry in India.
Initiated with the noble aim of empowering farmers to market their own produce efficiently, and in the process double their income by 2022, on 14th April 2016, Government of India launched National Agricultural Market (NAM), which was later renamed as Electronic National Agricultural Market (e-NAM).
When it comes to marketing surplus agricultural produce in India, approximately 30% is traded through regulated agricultural markets, popularly known as Agricultural Produce Market Committees (APMC) or Mandis.