GreenSat Innovation Labs Pvt. Ltd., an agritech company has signed an MoU with Gramin Vikas Trust (GVT) and IndiaHub e-Governance Pvt. Ltd. as technology partners for its Smart FPO (Farmer Producer Organisation) initiative.
Under the initiative, the GreenSat Innovation App would offer complete support starting from precision farming to banking, market linkages and 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, it said.
The targeted project size for FY22 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,” the firm said.