Agrigator expects to register GMV of Rs 400 crore in FY23
Agrigator, an agricultural supply chain platform, said it expects to register a gross merchandise value of Rs400 crore in FY23, a five fold jump from the current fiscal, cashing in on the increased need for agri-product supply chain and automation across operations.
The company provides full stack solutions in the agri supply chain – from a digital freight platform connecting grain shippers with independent truck carriers and online trading to a marketplace that helps buyers and sellers trade while ensuring quality sourcing, access to on spot logistics and banks for finance for smooth transaction. The platform also supports price discovery to support negotiation in both logistics and trade, automate operations including inventory planning, forecasting and re-ordering that help clients avoid wastage and minimize capital assets.
Agrigator said changes in technology and capabilities coupled with increased investment in the agri-tech space will multiply productivity across processes within the Indian agriculture sector. “Our ultimate aim is to become a one stop solution for all needs of the agri supply chain. We are building a platform that will act as the medium for all stakeholders of the supply chain to explore various integrations. This also includes financing through the fintech product that helps with ready finance for trade and in turn grow their businesses exponentially,” said Udit Sangwan, co-founder, Agrigator.
Indian fisheries sectors should deploy more scientific methods of production: Parshottam Rupala
There is a need to for the fisheries sector to focus on domestic market consumption along with exports, deploying more scientific methods of production, said Parshottam Rupala, Minister of Fisheries, Animal Husbandry and Dairying.
Realising the sector’s potential, the Government has committed to a national target to increase fish production to 22 million metric tons by 2024-2025, which will have a positive impact on 28 million fishers and fish farmers and almost twice that number along fish-related value chains, the minister said at an event organised by Confederation of Indian Industry in collaboration with the Ministry of Fisheries, Animal Husbandry and Dairying, National Fisheries Development Board and the Marine Products Export Development Authority on “Showcasing India as a hub for Aquaculture and fisheries Investment” on January 21, 2022.
“(At present) 74% of India’s export is shrimp; however the share of value added products is low at 7%. Thus, there is a huge scope to increase value added exports and in tandem increase price points for fishermen. Towards this, India must focus on strengthening seed quality and availability, smart farming and food safety standards,” Rajnikant Rai, Chief Executive, Agri Businesses Division, ITC said.