GreenSat Labs Signed MoU with Gramin Vikas Trust & IndiaHub

GreenSat Innovation Labs Private Limited, a leading agri-tech company signed a MoU with Gramin Vikas Trust (GVT), a rural welfare organization, and IndiaHub e-Governance Private Limited, an innovation-driven start-up, as a technology partner for their Smart FPO (Farmer Producer Organisation) initiative.

Under the startup, the app will provide end-to-end support that extends from precision farming to banking, market linkages, and innovative crop insurance products. Furthermore, it will offer direct access to National Commodity and Derivatives Exchange (NCDEX) wherein the latter will provide a commodity trading platform for the bigger FPOs, enabling farmers to have direct access to the market.

The earmarked project size for the first year (2021-22) is 100 FPOs with 500 FPOs planned for each successive year. Over 10,000 farmers have already signed up for the project with an additional 5,00,000 farmers anticipated to be on-boarded by March 2022.

Deepak Yadav, founder, GreenSat Innovation Labs Private Limited stated- “At GreenSat our focus has been on utilizing the power of technology and data to offer innovative solutions to our farmers. We believe that technology is the game-changer that can revolutionize 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. We are glad that Gramin Vikas Trust (GVT) picked us as their partner for this project with their proven track record in successfully implementing rural welfare projects. IndiaHub shares our passion for utilizing 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.”

The initiative is targeted at developing an Atmanirbhar Kisan – Smart FPO model to provide low-cost user-friendly technology to grapple with the four key challenges faced by most farmers today, namely, crop management, gathering funds, ensuring adequate insurance cover, and market linkages for sales. These challenges will be tackled through two creative tech-based solutions which include precision farming services and its faceless agri-banker concept.

Shiv Shanker Singh, chief executing officer, Gramin Vikas Trust asserted- “When GreenSat approached us with the Smart FPO initiative, we immediately realised that it would fit with GVT’s vision of bringing sustainable improvement into the lives of our 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.”

The app will grant users access to both precision farming services and the faceless agri-banker concept. Precision farming services will provide 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 unifies all financial support services in one place which comprises loans, insurance, sales, commodity research, and access to NCDEX.

Shekhar Tyagi, Director Operations, IndiaHub E-Governance Private Limited asserted- “We have 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. With all the necessary data at their fingertips, 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.”

To start with, the project will 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.