August 29, 2020
The platform will connect farmers in India directly with different stakeholders in the UAE food industry
It will empower local communities, deliver high-quality products, and contribute towards the UAE’s food security
Agricultural exports from India recorded 23% increase during March-June 2020 to reach US$3.4 billion
The UAE is India’s third-largest trading partner, with bilateral trade touching US$60 billion
The UAE-based Dubai Multi Commodities Centre (DMCC) on August 29, 2020, launched the Agriota e-Marketplace, a “technology-driven agri-commodity trading and sourcing e-market platform that will bridge the gap between millions of rural farmers in India and the Gulf nation’s food industry,” according to an article in Gulf Business.
The platform will connect farmers in India directly with different stakeholders in the UAE food industry (food processing companies, traders and wholesalers, etc) to meet their large demand. This will also enable farmers to bypass intermediaries, optimising the supply chain and ensuring transparency, thereby creating value for everyone involved. The aggregation through this marketplace is expected to empower local communities in India, deliver high-quality farm-to-shelf products, and contribute greatly towards the UAE’s food security. According to news reports, the platform will initially offer cereals, pulses, oil seeds, fruits, vegetables, spices and condiments.
The exports of agricultural commodities from India recorded a year-on-year jump of over 23 per cent during March 2020 to June 2020 to reach Rs.255.5 billion (US$3.4 billion) as per an official report on August 18. Agriculture, the largest employment generator in India, has long remained the key strength of the Indian economy. This strength attained new heights during the COVID-19 lockdowns when the agriculture sector emerged with strong output and income figures. Meanwhile, the agricultural exports as a percentage of India’s agricultural GDP have increased from 9.4 per cent in 2017-18 to 9.9 per cent in 2018-19.
The UAE Government plans to invest US$75 billion in infrastructure development across India over the next decade. Both countries are collaborating on emerging technologies such as blockchain and artificial intelligence to create mutually beneficial economic growth. At present, the UAE is India’s third-largest trading partner, with bilateral trade touching US$60 billion, and annual growth topping 11 per cent for 2018-19.