Orissa govt signs MoU with NSEL
Orissa government signed an MoU with NSEL to set up electronic trading facilities for agricultural commodities in the state. The project would provide a linkage between the state's farmers and other physical market players in the pan India market.
THE NATIONAL Spot Exchange Ltd (NSEL) has signed a Memorandum of Understanding (MOU) with the Orissa government's cooperation department on Monday (Sept 14) in order to continue its effort to reach out to every village in the country.
The MoU is intended to set up electronic trading facilities for agricultural commodities by the former. It was inked in the presence of Minister of Agriculture and Cooperation, Dr Damodar Raut, the Development Commissioner and additional Chief Secretary Satya Prakash Nanda and the Managing Director and CEO of NSEL Anjani Sinha.
Orissa, where more than 40 per cent of the total land is under agricultural cultivation, needs an institutional support to provide a pan India market to the farmers. NSEL is expected to create this linkage between the state's farmers and other physical market players.
Commenting System
On this occasion, the agricultural Minister, Dr Damodar Raut said, “NSEL will play a vital role in bringing the information and communication gap that exists in various pockets of the agricultural market in the country.”
Sinha, the CEO of NSEL stated, “We want every farmer to use the facilities of NSEL .We will be arranging for awareness programs to educate the farmers about the quality check, sorting, grading and visibility of prevailing prices across various centres. We are glad that the Government of Orissa has taken the initiative to invite us for signing the MoU in this regard.”
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