MoU envisages the launch a Smart Farmer Producer Organisation (FPO) initiative
The Smart FPO model will provide farmers with complete end to end tech-support through the GreenSat Innovations and IndiaHub app right from gathering information, to connecting farmers with financial service providers
The targeted project size for 2021-22 is 100 FPOs with 500 FPOs planned for each successive year
GreenSat aims to on-board 5 lakhs farmers by March 2022
Mumbai, NFAPost: GreenSat Innovation Labs Pvt. Ltd. a leading agritech company signed an MoU with Gramin Vikas Trust (GVT), a rural welfare organization, and IndiaHub e-Governance Pvt. Ltd., an innovation-driven start-up, as a technology partner for their Smart FPO (Farmer Producer Organization) initiative.
Under the initiative, the GreenSat Innovation App will offer end-to-end support that extends from precision farming to banking, market linkages, and innovative crop insurance products. In addition, it will offer direct access to National Commodity and Derivatives Exchange (NCDEX) wherein the latter will offer a commodity trading platform for the bigger FPOs, providing farmers with direct access to the market.
The targeted project size for the first year (2021-22) is 100 FPOs with 500 FPOs planned for each successive year. More than 10,000 farmers have already signed up for the project with an additional 5,00,000 farmers expected to be on-boarded by March 2022.
Speaking about the initiative, GreenSat Innovation Labs Pvt. Ltd Founder Deepak Yadav said GreenSat focus has been on utilising the power of technology and data to offer innovative solutions to farmers.
“We believe that technology is the game-changer that can revolutionise agriculture, removing bottlenecks that have crippled the sector for decades. This partnership is the result of our determination to offer complete end-to-end solutions for farmers where they can find information, finance, insurance cover, and a market for their products,” said Deepak Yadav.
He said GreenSat Innovation is glad that Gramin Vikas Trust (GVT) picked the company as their partner for this project with their proven track record in successfully implementing rural welfare projects.
“IndiaHub shares our passion for utilising technology to bring sustainable solutions for farmers. Together, we hope to revolutionize farming as we know it, providing farmers with a single platform for all their requirements,” said Deepak Yadav.
Co-curated by GreenSat Innovation Labs Pvt Ltd, the initiative is aimed at developing an Atmanirbhar Kisan – Smart FPO model to offer low-cost user-friendly technology to address the four major challenges faced by most farmers today, namely, crop management, gathering funds, ensuring adequate insurance cover, and market linkages for sales. These challenges will be addressed through two of GreenSat’s innovative tech-based solutions, namely, precision farming services and its faceless agri-banker concept.
Gramin Vikas Trust Chief Executing Officer Shri Shiv Shanker Singh further explained that when GreenSat approached us with the Smart FPO initiative, Gramin Vikas immediately realised that it would fit with GVT’s vision of bringing sustainable improvement into the lives of rural poor and marginalised communities.
“It would bring the power of technology to our farmers’ doorstep, providing them with critical information, while connecting them with much-needed financial and market support. With this comprehensive support on one platform, it will also help in transforming rural communities, giving people the power to harness technology and bring change into their own lives,” said Shri Shiv Shanker Singh.
The app will offer users access to both precision farming services and the faceless agri-banker concept. Precision farming services will offer farmers critical information such as weather forecast, detection of diseases and pests, crop growth monitoring, nutrient tracking, irrigation management, and agri-doctor assistance.
The faceless agri-banker concept integrates all financial support services in one place, including, loans, insurance, sales, commodity research, and access to NCDEX.
Elaborating on the initiative, IndiaHub E-Governance Pvt Ltd Director Operations Shekhar Tyagi added the company has already seen the power of data and technology in the corporate sector.
“Today, no business decision is taken without a careful analysis of all the data available. The Smart FPO initiative takes these essential tools to the agricultural sector, giving farmers critical support in every aspect, from crop management to trading in commodities,” said Shekhar Tyagi.
With all the necessary data at their fingertips, Shekhar Tyagi said they can make informed decisions in areas like procuring finance or connecting with the nearest markets. “It will also help them avoid the pitfalls that have plagued the sector, such as lack of insurance and poor market linkages,” said Shri Shekhar Tyagi.
The project will initially be marketed in, Haryana, Gujarat, Himachal Pradesh, Rajasthan, Uttar Pradesh, Madhya Pradesh, Chhattisgarh, Bihar, Jharkhand, Odisha, Telangana, Andhra Pradesh, West Bengal, Sikkim, Assam, Meghalaya, Mizoram, Arunachal, J&K and Nagaland.