Ever since we first published the ‘5 Steps To Create A National Agriculture Market (NAM) In India’ two months back, we had several discussions with various stakeholders of the agriculture markets ecosystem on the core component of NAM – Interoperability, and were surprised by the subjective understanding many had about the same.
Below are 5 simple suggestions to ensure everyone is on the same page when it comes to Interoperability:
NCDEX e Markets Ltd. (NeML)’s e-Pledge is a unique service which leverages NeML’s domain expertise in the commodity spot markets to bring together critical stakeholders – the Borrowers (primarily Smallholder Farmers, Traders, Aggregators and Processors), the Warehouse Service Providers (WSPs) and the Lenders (primarily Financial Institutions like Banks) on a single, robust online platform. Continue reading “Farmers Finance of Rs. 3362 crores on NeML e-Pledge”
When it comes to agriculture market reforms to enhance farmers’ income, the success story of Karnataka’s Unified Market Platform (UMP)* stands out. By seamlessly connecting all 157 mandis (APMCs) in the State through the UMP and introducing the ‘Unified License’ – a single trading license for purchase and sale of agricultural produce through any APMC in the State – Karnataka has pioneered in successfully creating India’s first State Agriculture Market (SAM).
With ‘One Nation, One Tax’ becoming a reality in the form of GST, India has now taken a firm step towards realising its goal of becoming ‘One Nation, One Market’ for Agricultural Commodities. However, Agricultural Marketing being a State subject, special attention needs to be given by the States to be part of this grand vision. A good example is the market reforms undertaken in the State of Karnataka through the Unified Market Platform (UMP) – an Online e-Trading Platform for Agricultural Produce. Continue reading “UMP: The Next Game Changer After GST?”