Evolution of E-NAM in India: Prospect for farmer’s growth and prosperity

Abstract

India's agricultural products can be traded online via e-NAM. The market enables farmers, merchants, and buyers to trade commodities online. The goal of the National Agriculture Market (e-NAM), an electronic trading platform, is to establish a uniform national agricultural commodities market. It operates by establishing connections between India's current Agricultural Produce Market Committee (APMC) mandis. With full backing from the Central Government, the Ministry of Agriculture and Farmers' Welfare oversaw the Small Farmers Agribusiness Consortium (SFAC), which carried out the implementation of e-NAM, which was unveiled on April 14, 2016. With an online payment method and an internet-based system that guarantees fair and transparent price discovery, the e-NAM system gives farmers better marketing chances to sell their agricultural products. The market promotes better price discovery and the effective sale of commodities. With an online payment method and an internet-based system that guarantees fair and transparent price discovery, the e-NAM system gives farmers better marketing chances to sell their agricultural products. The market promotes better price discovery and the effective sale of commodities.