BSE inks JV with Frontier Agriculture Platforms to drive innovation in agriculture
Published: Mar 05, 2021
By TIOLCORPLAWS News Service
MUMBAI, MAR 05, 2021: BSE Investments, a wholly-owned subsidiary of BSE, on Friday entered into a joint venture agreement with Frontier Agriculture Platforms Limited (FAPL), with the latter picking up 40 per cent equity stake in BSE E-Agricultural Markets (BEAM).
"The objective of this Joint Venture is to explore scope and opportunities available in the agricultural commodities trading space, driven by a strong impetus given by the government to bring in transparency and efficiency in this space," said an official statement from BSE.
They added that the collaboration is part of BSE Group's commitment to broaden access to agricultural markets for investors and companies to create a "single market" for agriculture commodities.
Commenting on the joint venture, Mr Sameer Patil, Chief Business Officer BSE, said, "Through FAPL's strong industry connect and BSE's technological superiority, BEAM aims to eliminate bottlenecks associated with spot agriculture trading."
"Market access and linkage with the markets have been the biggest impediments for enhancing farmers' income. BEAM's technology platform which links the farmers with the businesses and other ecosystem players in agribusiness would go a long way in making the agriculture supply-chain efficient in the country," said Mr Nilotpal Pathak, Director FAPL.
FAPL will support BEAM with market linkages, connecting with stakeholders and domain knowledge.
