Latest news with #eNAM
Hans India
4 days ago
- Business
- Hans India
India's agri-tech sector to reach 600 million dollar by CY29: Report
New Delhi: India's agri-tech sector is on track to reach 600 million dollars in investments by calendar year 2029, a new report said on Thursday. The data compiled by 1Lattice shows that the sector is expected to grow at a steady annual rate of around 6 per cent -- reflecting renewed investor interest and long-term confidence in agricultural innovation. After a brief slowdown in funding post-2022, the sector is showing signs of strong recovery. Agri-tech has evolved significantly in recent years, with a major spike in entrepreneurship during the pandemic. In 2020 alone, 572 new agri-tech startups were launched as the agriculture sector began turning to digital-first solutions to tackle disruptions. Funding rounds increased from just 53 in 2019 to a peak of 101 in 2022. While the number of deals has now stabilised at around 60 to 70 per year, the focus has shifted. Investors are now looking for business models that are not only innovative but also scalable and ready for execution, rather than backing early-stage experiments. Several factors are fueling this growth. Impact investors, who focus on sustainability, are becoming more active. Digital tools like Agristack and the electronic National Agriculture Market (eNAM) are improving transparency and efficiency across the supply chain. There is also growing demand for Indian crops, both at home and overseas. Technology is playing a big role in this transformation. From AI-powered data tools to smart irrigation systems, innovation is helping farmers use resources better, increase productivity, and deal with climate-related challenges. The study suggests that as capital continues to flow into the sector and digital infrastructure strengthens, agri-tech will become a key part of India's journey toward more sustainable and modern agriculture. Meanwhile, earlier this year, Union Minister of State (Independent Charge) for Science and Technology Jitendra Singh said that the startups in agriculture are intelligently blending traditional organic farming practices with technology to drive livelihood opportunities in rural areas. Addressing the "Natural and Organic Farmers Summit 2025" in April this year, the Minister lauded the efforts of grassroots innovators and farmer-entrepreneurs who are embracing science to scale up agriculture, enhance productivity, and ensure sustainable incomes.
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Business Standard
09-07-2025
- Business
- Business Standard
Centre adds 7 new farm products to e-NAM platform for better pricing
Union Agriculture Minister Shivraj Singh Chouhan on Wednesday announced the inclusion of an additional seven products, including Banarasi paan, on the e-NAM platform in a bid to provide more opportunities and better prices to farmers. The seven commodities include sugarcane, Marcha rice, Katarni rice, Jardalu mango, Shahi litchi, Magahi paan and Banarasi paan. With this, the total number of products on the e-NAM platform has now increased to 238. "This move will assure farmers better market access, better pricing and improved quality, thereby boosting their economic well-being," according to an official statement. The Directorate of Marketing and Inspection (DMI) under the agriculture ministry has prepared tradable parameters for seven additional agri-products, which are available on the e-NAM portal ( Creation of tradable parameters provides a category or range for each product and helps farmers get remunerative prices based on the quality of the produce. The new products were approved after extensive consultations with key stakeholders, including state agencies, traders, subject-matter experts and Small Farmers' Agri-Business Consortium (SFAC). Further, based on the requests and feedback received from various stakeholders, tradable parameters of four existing products have been revised, namely, water chestnut flour, baby corn and dragon fruit. Launched in 2016, eNAM is a government initiative to digitise and unify agricultural commodity trading in India, enhancing market efficiency and farmer income through technology-enabled transparent trading. The platform supports online bidding, real-time price discovery, quality-based transparent auctions, and immediate payment settlements.
