Mumbai: BSE Investments Limited (BSEIL), a wholly owned subsidiary of BSE, on Friday entered into Joint Venture agreement with Frontier Agriculture Platforms Private Limited (FAPL) to drive innovation in agriculture markets.
As part of this joint venture, FAPL picks 40 per cent equity stake in BSE E-Agricultural Markets Limited (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.
This collaboration is part of BSE Group’s commitment to broaden access to agricultural markets for investors and companies, in line with Prime Minister’s vision to create a “single market” for agriculture commodities. As a result of this Joint Venture, FAPL will support BEAM with market linkages, connecting with stakeholders and domain knowledge.
Commenting on this Joint Venture, Mr Sameer Patil, Chief Business Officer BSE, said, “This JV builds on our investment in BEAM and is part of BSE group’s commitment to create a world-class trading framework for agriculture commodities to the benefit of the farmers and the Indian economy. Through FAPL’s strong industry connect and BSE’s technological superiority, BEAM aims to eliminate bottlenecks associated with spot agriculture trading.”
Mr Nilotpal Pathak, Director FAPL, said, “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.”