Over 4,000 FPOs Register On ONDC Portal, Boosting Digital Commerce

ENA Sectors 2024-03-01 18:03:12 New Delhi, Mar 1 (KNN) Nearly 5,000 out of the 8,000 registered Farmer Producer Organisations (FPOs) have successfully registered on the Open Network for Digital Commerce (ONDC) portal, enabling them to sell their produce online to consumers nationwide. The initiative to register FPOs onto the ONDC platform aligns with the central government's objective of providing growers with improved market access. Over 8,000 FPOs have been registered, nearing the government's target of 10,000 under the Formation and Promotion of 10,000 Farmer Produce Organisations scheme launched in 2020 with a budgetary provision of Rs 6,865 crore. By joining ONDC, FPOs gain direct access to digital marketing, online payment facilities, and both Business-to-Business (B2B) and Business-to-Consumer (B2C) transactions. This move not only empowers FPOs but also strengthens their economic viability by expanding their reach to a wider customer base across the country. Aggregating small, marginal, and landless farmers into FPOs not only enhances their economic strength but also improves their market linkages, thereby increasing their income potential. FPOs facilitate farmers' access to advanced technology, credit facilities, better inputs, and broader markets, incentivizing them to produce higher-quality commodities. Under the scheme, FPOs receive financial assistance of up to Rs 18.00 lakh per FPO for a duration of three years. Additionally, provisions include a matching equity grant of up to Rs 2,000 per farmer member of the FPO, capped at Rs 15.00 lakh per FPO, and a credit guarantee facility of up to Rs 2 crore of project loans per FPO from eligible lending institutions to ensure institutional credit accessibility. (KNN Bureau) 36906 https://knnindia.co.in/news/newsdetails/sectors/over-4000-fpos-register-on-ondc-portal-boosting-digital-commerce 2024-03-01 18:03:12 knnindia.co.in Over 4,000 FPOs Register On ONDC Portal, Boosting Digital Commerce