Online Trading Platform for Agri-Markets of Karnataka
Details of the organization
Name *
Rashtriya eMarket Services pvt Ltd
Country *
India
Website (URL)
http://www.remsl.in/
Type *
Others
Information about the project
Project title *
Online Trading Platform for Agri-Markets of Karnataka
Description *
Agriculture is dependent on monsoons and markets, inefficient markets lead to ineffective price discovery mechanisms making farming profession unattractive. Better prices and market information availability encourages farmers to continue farming ensuring food security. Improved market infrastructure & use of technology creates employment for the rural workforce. The online trading platform creates opportunities for all to trade, creating an inclusive and growth-oriented sustainable environment. Rashtriya e-Market Services (ReMS) with a vision of ‘bringing in efficiency and transparency in the agricultural marketing system for efficient price discovery to benefit farmers and other market participants’ has provided a modern electronic online platform, also known as the Unified Market Platform (UMP), that connects all primary agri-markets in the State of Karnataka (India). Online trading system for agri-markets in Karnataka boosts competition, facilitates transparent price discovery which increases farmer’s income through raise in farmer’s share in consumer rupee. The trading platform combines technological efficiency and market-friendly trading features in a transparent atmosphere to make trading a rich and rewarding experience. Up to December 2017, 95 lakh lots, valuing INR 75,696 crore having the quantity of 367 lakh MT have been transacted. Even after four years of implementation, it’s just a beginning.
Project website
http://www.remsl.in/
Geographical coverage *
Local implementation: India, Karnataka
Status *
Ongoing
from 20/01/2014
to
31/01/2018
Partners
Government of Karnataka, NCDEX e-Markets
WSIS information
WSIS action lines related to this project
*
E-agriculture
Sustainable Development Goals (SDGs) related to this project
Goal 1: End poverty in all its forms everywhere
Goal 2: End hunger, achieve food security and improved nutrition and promote sustainable agriculture
Goal 4: Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all
Goal 8: Promote inclusive and sustainable economic growth, employment and decent work for all
Goal 9: Build resilient infrastructure, promote sustainable industrialization and foster innovation
Goal 12: Ensure sustainable consumption and production patterns
Project type *
Project