E-NAM and Its Benefits: Know How Buyers and Sellers can do Trading through it

E-Nam or E-National Agriculture Market is a popular online trading platform for farmers wherein they can sell their produce directly via the internet. The platform brings buyers and sellers together.  

The pilot project of E-NAM was launched by Prime Minster Narendra Modi on April 14, 2016. Small Farmers’ Agribusiness Consortium (SFAC) manages the portal with NFCL’s iKisan division as the technology provider.  

In the Union Budget 2021-22, Finance Minister Nirmala Sitharaman announced that about 1000 mandis will be connected to the e-NAM platform.  

Benefits of e-NAM 

E-NAM platform has proved to be an astounding success across the nation. The platform helps farmers fetch a better price for their produce. There is no role of middlemen here.  

Do you know, in January 2018, the market transaction touched Rs.36,200 crores? 

At present, the platform deals with staple food grains, fruits, and vegetables, among the 90 commodities that are being traded here.  

Reasons for the growing popularity of this platform: 

• Farmers get better price

• Absence of middlemen

• Users get fresh produce as the products are shipped directly to the consumer the very same day.

• Payment process is online and easy, so no delays in shipping and delivery of the produce. 

Added features of the platform  

• MIS Dashboard was added in February 2018. MIS is Management Information System that allows decision-making, visualization, coordination, analysis, and control of the company’s information. 

• BHIM (also added in 2018): this is an Indian mobile payment app created by National Payments Corporation of India (NPCI) and launched on December 30, 2016. It is named after Dr. B. R. Ambedkar. 

• The platform also features other mobile payments. 

• E-NAM also has improved features on apps. Features like gate entry and payment via mobiles have made this platform highly convenient, easier to use, and more popular among farmers. 

How is trading done? 

Buyers and sellers do the trading through trading computer or using the mobile app.  

E-NAM mobile app is available on Android phones for farmers and traders for bidding and closing transactions. The app is available so far in 8 languages.