Blockchain, a promising technology that can be significant value addition to the Indian Agriculture Sector and Supply Chain

No.PR-215 August 21, 2020 New Delhi Blockchain, a promising technology that can be significant value addition to the Indian Agriculture Sector and Supply Chain Blockchain can play a significant role in every process of agriculture, from production to marketing. We have to make use of various tools of Blockchain technology and enhance the production of the local supply chain, stated Dr. Omkar Rai, Director General, Software Technology Parks of India, Ministry of Electronics & Information Technology in the Conclave organized by PHD Chamber of Commerce and Industry on ‘Blockchain for Agriculture Production and Supply Chain’. Dr. Omkar Rai, while stating about the Government’s objective to double the farmer’s income by 2022 mentioned that we need to adopt the new technologies and upgrade ourselves accordingly making adoption of Blockchain across the value chain in the agriculture sector of immense importance. Agriculture Sector is the backbone of Indian economy with a significant contribution to India’s GDP and employment generations. So, when we think of doubling farmer’s income, we think of doubling the per-capita income of the countrymen as well, leading to economic growth, said Dr Rai. There is a need to develop an efficient supply chain management so that we don’t lose the value during processing, transportation, and till the product reaches the user. We also need to enhance our branding that will be based on trust, transparency and trustworthiness said Dr. Rai. He discussed the new program and initiatives taken by Software Technology Parks of India in leveraging Blockchain technology in Agriculture Production and Supply Chain with the help of industry and institutions. Dr. Omkar Rai highlighted that Blockchain is one technology that can enhance and add value in the entire process of agriculture from production to market. Blockchain can help in the monitoring of the production process of agriculture making it well established, monitored and developed. Mr. Arun Kumar Jha, Director General, National Productivity Council, DPIIT, Ministry of Commerce, and Industry mentioned that smart skills, artificial intelligence, and Blockchain are pivotal in the agriculture sector. While talking about leveraging Industry 4.0 in all the sectors and industry, he highlighted that Blockchain technology will give a boost to the agriculture sector and minimize their losses. It’s time for farmers to be educated to use the Blockchain so that they can use it for their profit, increase their efficiency, and network with other farmers all around the country. They can also analyze the weather and then place their crops accordingly. They can manage their supply chain and sorrowing season with the help of this technology, said Mr. Jha. He urged PHD Chamber of Commerce and Industry to send representations on Blockchain for Agriculture Production and Supply Chain so that they can share in the needed forums and ministries. Captain T.S. Ramanujam, CEO, Logistic Sector Skill Council, Ministry of Skill Development and Entrepreneurship in his in-depth presentation deliberated about the integration of Blockchain in the supply chain that can enable transparency, accurate asset tracking, and enhanced licensing of services, products and software. He mentioned that Blockchain usage to Argi-Supply Chain can help in tracking a product from farm to store; improve food safety and eliminating counterfeit items; reduce financial risks and promoting inclusive trade; open up access to agricultural financial services especially to the small farmers; generate smarter market data for better decision making with data science and legally proving certifications to the relevant authorities and many more. Captain T.S. Ramanujam highlighted that as Blockchain can become mass adopted across the supply chain, it becomes imperative to up-skill the workforce at all levels to make them tech-equipped and are future-ready. Mr. Sunoor Kaul, Director, Origo Commodities Private Limited while sharing the industry insights and their challenges mentioned Blockchain technology brings in transparency, security, more pro-activeness, gives real-time access, flexibility, high secured transactions, more efficiency and many more. Integrating these aspects of Blockchain in agriculture can help the producer, buyer, and seller in managing the entire process and make their process profitable. Dr. R.C. Srivastava, Vice-Chancellor, Dr. Rajendra Prasad Central Agriculture University, Department of Agriculture Research and Education, Ministry of Agriculture and Farmers Welfare while giving about the situation of agriculture in Bihar and the various initiatives undertaken to improve the productivity and proper utilization of resources. He discussed the way forward for agriculture that is to increase the productivity of the land by optimal utilization of resources; enhance rural industrialization and, reducing transport losses. Mr. Surinder Kalra, Blockchain Expert in his presentation, gave a brief background about Blockchain technology, its evolution, and usage around the world. He deliberated about the advantages of a smart contract that includes speedy process, reliability, security, and reducing operational cost. He also explained the working of the Blockchain in the food supply chain. He highlighted that there is a need to converge record-keeping and integrating digital building blocks in industry 4.0. Mr. Sumit Arora, Blockchain Expert in his technical presentation gave a brief insight into the truths and challenges related to Blockchain. He gave a practical implementation of Blockchain and it’s usage in supplier advice services. He discussed the challenges and need to learn this technology for better management of the business. Mr. Ashish Aggarwal, Chair, Start-up Forum, PHD Chamber gave the industry perspective about the role of Blockchain technology in various sectors and its benefits. He mentioned that agriculture is one of the backbone sectors of the Indian Economy and its time for this sector to venture into using Blockchain technology in this sector. With the government goal to double farmer’s income by 2022, this can be only done with the development of process and minimizing the challenges faced by the farmers. The Government’s initiative to invest in infrastructure will help agriculture to boost itself in a significant manner at the same time creating a value chain in the agriculture sector. Mr. Bharat Singh Mehta, Co-Chair, Start-up Forum, PHD Chamber gave this concluding remarks mentioned that usage and implementation of Blockchain in the agriculture sector is vital. He also delivered a formal vote of thanks to all the delegates. Dr. Jatinder Singh, Director, PHD Chamber gave the vivid description of Blockchain technology and opportunities in agriculture production and supply chain. The conclave was attended by many industry stalwarts’ all around the world. Origo Commodities Private Limited was the associate sponsor along with MasterCube IoT was the knowledge partner for this conclave. Ends Media Division PHD Chamber of Commerce and Industry