UNDP India’s Accelerator Lab and Spices Board India below the Ministry of Commerce and Industry, Government of India, at present signed a Memorandum of Understanding (MoU) with the goal to construct a blockchain primarily based traceability interface for Indian spices to reinforce transparency in buying and selling. UNDP India has independently secured assist from The Cabinet Office of Japan for this initiative below the Japan SDGs Innovation Challenge.
Blockchain is a decentralized strategy of recording transactions on an open and shared digital ledger. This permits for ease and transparency in information administration throughout a posh community, together with, farmers, brokers, distributors, processors, retailers, regulators, and customers, thus simplifying the availability chain. This blockchain powered platform for Indian spices will improve the standard assurance of agricultural export commodities.
One of the important thing beneficiaries of this initiative might be small farmers with potential doubling of earnings primarily based on buying and selling on this platform. It may even enable farmers simply as all different members of the availability chain to entry the data which additional makes all the provide chain extra environment friendly and equitable.
The design of the Blockchain interface is anticipated to be accomplished by May 2021. The mission might be piloted with over 3,000 farmers engaged in chilli farming in Guntur, Andhra Pradesh. UNDP and Spices Board India is working in the direction of integrating the Blockchain Traceability Interface with e-Spice Bazaar portal developed by Spices Board India for connecting spices farmers with markets.
Speaking on the collaboration, Shoko Noda, Resident Representative, UNDP India, stated, “Spice farmers are mostly small and marginal farmers. Despite India being the largest consumer and producer of spices, one of the major challenges they face is getting their due share of income owing to the lack of robust monitoring mechanisms that can ensure quality of spices at every stage of value chain. We are confident that the blockchain interface will help connect these farmers with international markets and add to their income. The technology can also help in rebuilding pandemic affected supply chains by providing trading partners and consumers with trusted and secured data on goods and transactions.”
D. Sathiyan, IFS, Secretary, Spices Board India on this joint initiative stated, India is the biggest exporter, producer and client of spices on this planet. Spices exports throughout 2019-20 crossed a milestone of $Three billion. The altering order within the world spices and meals sector has elevated the relevance of infrastructure growth for worth addition, certification for high quality and meals security, promotion of spices highlighting the immunity boosting properties, and so on and the Board has been tirelessly working in the direction of strengthening the Spices worth chain in India. This UNDP-Spices Board joint initiative to construct a blockchain-powered traceability interface for Indian spices is one other vital milestone in our journey to make the spices worth chain environment friendly, clear and equitable for all stakeholders. We plan to combine this blockchain primarily based traceability interface with the e-spice bazaar portal already developed by the Board.