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Sunday / May 26. 2024
HomePosts Tagged "Open Network for Digital Commerce (ONDC)"

Credit Guarantee issued to 1,101 FPOs worth guaranted coverage of Rs 246.0 crore covering more than 10.2 lakh farmers.

Almost 5 thousand out of 8,000 registered Farmer Producer Organizations (FPOs) have been registered on Open Network for Digital Commerce (ONDC) portal for selling the produce online to consumers across the country. The onboarding of FPOs on ONDC to reach out to their buyers in any part of the country is in line with the Central government objective of providing growers with better market access. The move aims to empower FPOs with direct access to digital marketing, online payment, business-to-business and business-to-consumer transactions.  Over 8,000 FPOs have been registered against government target of 10,000 under a new Central Sector Scheme titled “Formation and Promotion of 10,000 Farmer Produce Organizations (FPOs)” launched in 2020 with budgetary provision of Rs 6,865 crore. Aggregation of small, marginal and landless farmers into FPOs help enhance economic strength & market linkages of farmers for enhancing their income. FPOs facilitate farmers with access to improved technology, credit, better input and more markets to incentivize them to produce better quality commodity.

FPOs are provided financial assistance up to Rs 18.00 lakh per FPO for a period of 3 years. In addition to this, provision has been made for matching equity grant up to Rs. 2,000 per farmer member of FPO with a limit of Rs 15.00 lakh per FPO and a credit guarantee facility up to Rs. 2 crore of project loan per FPO from eligible lending institution to ensure institutional credit accessibility to FPOs. So far, Credit Guarantee has been issued to 1,101 FPOs worth guaranted coverage of Rs 246.0 crore covering more than 10.2 lakh farmers.  Matching equity grant amounting to Rs 145.1 crore has been transferred directly to the bank account of the eligible 3,187 FPOs.

Formation & promotion of FPOs is the first step for converting Krishi into Atmanirbhar Krishi. The initiative enhances cost effective production and productivity and higher net incomes to the member of the FPO. It also improves rural economy and create job opportunities for rural youths in villages itself. This was the major step towards improving farmers’ income substantially.

FPOs are to be developed in produce clusters, wherein agricultural and horticultural produces are grown / cultivated for leveraging economies of scale and improving market access for members. “One District One Product” cluster to promote specialization and better processing, marketing, branding & export.  Further Agriculture value chain organizations forming FPOs and facilitating 60% of market linkages for members produce.

The key objectives of the scheme are:

To provide holistic and broad-based supportive ecosystem to form new 10,000 FPOs to facilitate development of and sustainable income-oriented farming and for overall socio-economic development and wellbeing of agrarian communities.

To enhance productivity through efficient, cost-effective and sustainable resource use and realize higher returns through better liquidity and market linkages for their produce and become sustainable through collective action.

To provide handholding and support to new FPOs up to 5 years from the year of creation in all aspects of management of FPO, inputs, production, processing and value addition, market linkages, credit linkages and use of technology etc.

To provide effective capacity building to FPOs to develop agriculture-entrepreneurship skills to become economically viable and self-sustaining beyond the period of support from government.

FPOs can be registered either under Part IXA of Companies Act or under Co-operative Societies.

Credit Guarantee issued to 1,101 FPOs worth

Otipy is making its products available to a wider audience through popular ONDC seller apps like Pincode (by PhonePe) and Paytm apps.

Agritech startup Otipy announced that company has joined Open Network for Digital Commerce (ONDC) to sell fruits and vegetables to consumers in Delhi-NCR and Mumbai.

This integration ensures its catalogue is visible on various apps, making it easy to discover and enabling smooth transactions on the growing network, Otipy said in a statement.As Otipy onboards ONDC, it is set to expand its customer reach, making its products available to a wider audience through popular ONDC seller apps like Pincode (by PhonePe) and Paytm apps.

This move aims to strengthen the brand’s presence in Delhi-NCR and Mumbai, the company mentioned. Otipy will also focus on bulk procurement directly from farmers and Farmer Producer Organizations (FPOs).

“As we join the ONDC Network, it helps us in expanding our reach to varied customer segments. Through the network, we not only plan to enrich buyer choices but also elevate the shopping experience, facilitating inclusivity in a dynamic e-commerce landscape”, said Varun Khurana, Founder and CEO of Otipy.

While commenting on the Otipy’s move T Koshy, Managing Director & Chief Executive Officer of ONDC said, “With Otipy on the Open Network, it not only stands to benefit from an extensive reach of the network but also reinforces its commitment to fostering a sustainable and inclusive e-commerce framework. A D2C catalogue of farm-fresh fruits, vegetables and groceries will certainly enhance customer choices that champion direct procurement directly from farmers and FPOs”.

Operated by Crofarm Agriproducts, Otipy was launched in 2020. It seeks to significantly reduce fresh produce waste by making agri produce accessible to consumers from farms to home in 12 hours.

Otipy is making its products available to

ONDC platform of e-marketing will connect fishermen, fish farmers, FFPOs, self-help groups and other fishermen cooperatives in a structured manner.

The Department of Fisheries signed a Memorandum of Understanding (MoU) with Open Network for Digital Commerce (ONDC) in the presence of Union Minister of Fisheries, Animal Husbandry and Dairying Parshottam Rupala, Minister of State Dr. L Murugan, Secretary (Fisheries) Dr Abhilaksh Likhi, Joint Secretary (Inland Fisheries), Sagar Mehra, MD, ONDC T. Koshy and other esteemed dignitaries at New Delhi. Parshottam Rupala also released a booklet “From Catch to Commerce, Increasing Market Access through Digital Transformation”.

The objective of the collaboration of Department of Fisheries with ONDC is to provide a digital platform and empower all stakeholders including traditional fishermen, fish farmers producer organization, entrepreneurs from fisheries sector to buy and sell their products through e-market place. ONDC is a unique platform of e-marketing that will play a significant role in fisheries sector by connecting fishermen, fish farmers, FFPOs, self-help groups and other fishermen cooperatives in a structured manner.

ONDC platform of e-marketing will connect fishermen,

FarMart and the Open Network for Digital Commerce (ONDC) are jointly redefining the food supply chain landscape by seamlessly connecting food value chains across the country.

FarMart, India’s fastest-growing intelligent food supply network, announced its recent launch onto ONDC, making it the first Food and Agri Tech company to do so. FarMart is utilizing the Open Network for Digital Commerce (ONDC) network to serve food manufacturing businesses in India with easy access to quality ingredients. Through this collaboration, FarMart and ONDC are jointly redefining the food supply chain landscape by seamlessly connecting food value chains across the country. forging seamless connections between food producers and manufacturers across the country.

The Food and Agri Tech company recently fulfilled a B2B bulk order of 5,000kg of flour on the network. FarMart currently has over 25 SKUs of processed products ranging from varieties of food grains, oilseeds, spices and pulses for food businesses. This collaboration will allow food businesses from all over the country to tap into FarMart’s wide network of 2 lakh+ village-level aggregators and 2,000+ processors.

Alekh Sanghera, Co-Founder and CEO of FarMart, commented on the momentous launch by saying, “FarMart mission is to make food value chains more resilient, reliable & rewarding for humanity. Being live on ONDC is a pivotal element of our distribution strategy as it enables us to seamlessly connect farming communities with food processors and eventually end consumers while ensuring traceability.”

“Being a board member at both FarMart and ONDC, this news gives me immense joy and pride. This collaboration provides improved access for farmers, small businesses, and consumers in the food supply chain which is the shared mission of both organizations. This is a big step towards digitization, traceability and efficiency of global food supply chains.”, shared Anjali Bansal, Founder and Managing Partner at Avaana Capital.

ONDC’s vision is to democratise digital commerce. Agriculture is one of the key focus areas for us, and after enabling FPOs to sell their produce to consumers across India, we are now working on enabling B2B (Bulk) transactions for agricultural commodities. I am happy to see Farmart joining the network, looking forward to more Agritech companies/agriculture commodity buyers to join network to enable e-procurement of Agriculture Commodities” T Koshy, MD & CEO, ONDC

FarMart and the Open Network for Digital