Turnover on e-NAM to cross Rs 1 trillion this fiscal
e-NAM (National Agriculture Market) is a pan India electronic trading portal. It was launched in 2016. This portal connects the existing Agricultural Produce Market Committee mandis together.
The portal creates a unified national market for agricultural commodities through the following features:
- Streamlining processes across integrated markets,
- Bridging information gaps between buyers and sellers, and
- By promoting pricing of commodities on a real-time basis. This portal is fully funded by the Central Government.
- It is implemented by the Small Farmers Agri-Business Union under the Union Ministry of Agriculture and Farmers Welfare.
Other salient features of e-NAM-
- The portal facilitates trade from warehouses on the basis of e-NWR (Electronic Negotiable Warehouse Receipt).
- Under the NWR system, the ownership of the goods stored in the warehouse is transferred without physically delivering them.
- Platform of Platforms (PoP) facility has been made available. With this, farmers can sell their produce even outside the limits of their state.
- On this, 41 service providers from different platforms provide diverse value chain services like trading, quality checking, warehousing, fintech.
- Artificial Intelligence (AI) based assistive devices have been integrated with the e-NAM platform.
Source – NABARD