Importance of Supply Chain Market in India | Crescendo Global

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By: Crescendo Global
 
MUMBAI, India - Aug. 9, 2022 - PRLog -- The Importance of Supply Chain Market in India

India's agricultural sector is one of the largest contributors to the country's economy. Agriculture accounts for about 15% of GDP, employs over 50 million people, and provides food security to nearly 400 million people. However, agriculture faces many challenges including climate change, water scarcity, and increasing demand for food. As a result, the Indian government has launched several initiatives to improve the efficiency of the supply chain market. These efforts have led to increased investments in infrastructure, technology, and innovation.

The Indian government has taken steps to increase the efficiency of the supply chains market by implementing various programs. One of these programs is the National Food Security Act (NFSA), which was passed in 2013. The NFSA aims to provide subsidized food grains to poor households. Another program is the Pradhan Mantri Krishi Sinchayee Yojana (PMKSY). PMKSY focuses on providing farmers with access to irrigation facilities, seeds, fertilizer, credit, and training. In addition, the government has created the National Agricultural Cooperative Marketing Federation of India (NAFED) to help farmers sell their products at competitive prices. NAFED works with state governments to ensure that farmers receive fair prices for their crops.

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In order to further improve the efficiency of the agricultural sector, the government has implemented several reforms. One reform includes the introduction of e-marketplaces. E-marketplaces allow farmers to sell their produce directly to buyers online. This helps farmers avoid middlemen who charge high fees. In addition, the Indian government has introduced a national biometric database system called Aadhar. Aadhar links each individual's identity to his or her unique identification number. This allows the government to track individuals' purchases and prevent fraud. Finally, the Indian government has invested heavily in research and development. The government has established several institutions to conduct research on topics ranging from agriculture to medicine.

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