Agriculture

PM to launch e-trading portal for agricultural commodities today

The Prime Minister Narendra Modi will launch the e-commerce portal for agricultural commodities National Agriculture Market NAM today
PM to launch e-trading portal for agricultural commodities today

The Government of India is going to launch much discussed and awaited e-trading portal of agricultural commodities, National Agriculture Market (NAM) today. The Prime Minister Narendra Modi will launch the portal at 6:30 PM in New Delhi today.

Government of India had approved NAM on July 1, 2015 with the objective to usher much needed agri-marketing reforms in order that farmers produce may fetch the best prices. The scheme was sanctioned with a budget of Rs. 200 crores and with the aim to integrate 585 regulated markets with the common e-market platform by March 2018. Since agri-market reforms are integral to NAM, reforms of State APMC Acts in terms of a single license for trading to be valid across the State, single point levy of market fee and provision for electronic auction as a mode for price discovery, has been made a pre condition for integration with NAM.

According to official sources, many States and Union Territories have expressed their willingness to join NAM, however, detailed proposals were received from 12 States for integration of 365 mandis. Of these, 21 mandis from 8 States — Gujarat, Telangana, Jharkhand, Madhya Pradesh, Rajasthan, Uttar Pradesh, Haryana, and Himachal Pradesh — have been selected for the Pilot launch of the NAM e-market platform. 25 commodities have so far been listed for e-trading through National Agriculture Market.

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