Govt., Mastercard launch digital market e-Rythu

The State government on Wednesday got in into a memorandum of Comprehending (MoU) with the financial services business Mastercard to provide services to the farming community including e-Rythu, a digital marketplace, payments etc. Chief Minister N. Chandrababu Naidu introduced the e-Rythu at the Complaint Hall near his house at Undavalli near here.

The e-Rythu is a mobile platform established by the Mastercard Labs for Financial Inclusion. It was targeted at assisting the little scale farmers looking to sell their produce to the ideal buyers more efficiently and at the very best possible prices. Telugu will be medium of communication.Mr.

Naidu used that the State federal government would form a Special Purpose Lorry (SPV) if the Mastercard were interested in dealing with it. It would also make investment to establish a feasible service design on the services to the farming community. The business needs to bring in the very best practices, understanding and innovation. It might utilize the data and resources supplied by the federal government in developing the model, which could be replicated elsewhere in the country, he stated. The federal government desired the business to incorporate the e-Rythu with existing platforms such as e-NAM (national agriculture market).

Describing Amazon, Flipkart and Alibaba, the Chief Minister stated their principle was easy however they used technology. Their success was because of deliverables to the last mile person. Also, focus needs to be on scaling up the item. Success would not follow unless these thumb rules were followed.Agriculture Minister Somireddy Chandramohan Reddy, Special Chief Secretary(Agriculture)B. Rajasekhar, Gardening Commissioner Chiranjeev Choudhary, Mastercard Vice President Rajeev Kumar, Mastercard Labs for Financial Addition vice president Salah Goss and others spoke. The job would be started with one large buyer,

Lawrencedale Agro Processing India Limited( LEAF), and four Farmers Producers Organisations (FPOs), including LEAF Lambasingi Cultivation Farmers Producers Cooperative Society Limited(Visakhapatnam), Chicacole Farmers Producers Company (Srikakulam), Giri Chaitanya Farming and Marketing Mutually Assisted Cooperative Society Ltd(Visakhapatnam)and Andhra Kashmir Farmers Producers Organisation (Girjana Vikas Foundation), Visakhapatnam.

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