On April 14, 2016, Prime Minister Narendra Modi launched an electronic trading platform, the National Agriculture Marker (e-NAM) for the farmers in India to sell their produce.
On the 125th anniversary of Dr. Bhimrao Ramji Ambedkar, Indian jurist, economist, politician and social reformer, Prime Minister Narendra Modi launched an electronic trading platform, the National Agriculture Marker (e-NAM) for the farmers in India.
Through the e-NAM electronic trading the farmers will have a reach to around 585 regulated wholesale markets or agriculture produce market committees (APMCs) in a few years, which will allow them to sell their produce to the highest bidders.
In a time when food crisis is a big problem for farmers as well as for the clients, this initiative would naturally provide with numerous advantages to farmers and would also benefit other stakeholders including consumers and traders.
The scheme will aim at integrating 21 markets in eight Indian states including six in Uttar Pradesh, three in Gujarat, five in Telangana, one in Rajasthan, Jharkhand and Madhya Pradesh, two in Haryana and Himachal Pradesh.
This would be a turning point in the country’s agriculture sector that would eventually allow farmers to decide when, where and at what price they want to sell their produce.
Agriculture Minister Radha Mohan Singh said that the scheme is launched with a budget of around INR 200 crore and nearly 25 key commodities, including wheat, paddy, maize, onion, jowar, bajra, groundnut, potato, soyabean and mustard seed, have been selected for e-trading. Fruits and vegetables, which are generally known for price fluctuations in India are however not yet included in the scheme.
“This is a turning point for the agriculture world. This initiative will usher in transparency, which will greatly benefit farmers. Farmers can decide when, where and at what price they can sell in the wholesale mandis online. Farmers will not be dependent on others. They will be able to decide on their own,” said Narendra Modi while addressing a gathering of farmers at Vigyan Bhawan.