Online B2B portal has turn out to be the best platform for stakeholders, professionals, traders, farmers in Agricultural sector promoting real time price discovery based on actual demand and supply and is the only sector to grow at 4 percent plus in the first two quarters of the financial year 2020-21, after the distress caused by the coronavirus.
The Agricultural World is changing quickly. India has recorded the second-highest number of deals in agricultural technology. Since Agriculture sector is the back bone of Indian economy, the government has seriously taken this into consideration for the faster scaling up of the Agri Tech startups which is why the Union budget 2021-22 has allocated the total grant of Rs 1,31,531 Crore for Agricultural Sector. Therefore, it is predicted that this budget will be the turning point for the farmers of our country as the government allocates Rs 75,100 crores especially for the farmers and also announcing an increase in agriculture credit target to Rs 16.5 lakh crores in financial year 2021-22.
These days, Agriculture business has also adopted digitization and agri business of all sizes are moving online to attract more customers across the globe which are growing quite competitively. Moreover, taking digitization a step further the finance minister, Nirmala Sitharaman spoke about the online b2b trading platform for agricultural commodities in India—e-NAM. More such online b2b portal have emerged as a credible tool for creating a distinct online identity for agri business stakeholders, traders and farmers. TradeMagiX, one such online business to business portal have been designed to deliver the standards that the customers expect for online trading.
Agriculture is a significant profession for as long as humans have existed on the planet and these online trading platforms are creating a unified countrywide market for agricultural products. A recent study revealed that the global digital farming market is projected to reach USD 10,702.3 million by 2027, at a CAGR of 12.7% during the forecast period (2021-2027). The b2b portal for agriculture will provide businesses with the opportunity to increase visibility and to generate business more efficiently than ever before. At TradeMagiX, the stakeholders will get the opportunity to market their products with the best engagement, rankings and conversion rate.
Source: https://prsindia.org/budgets/parliament/demand-for-grants-2021-22-analysis-agriculture-and-farmers-welfare
