A blockchain-based agtech startup Agri10x has inked a partnership with the Indian government to aid farmers sell their produce directly to buyers.

Co-ordinate to a written report published by local news outlet Business Standard, Agri10x will gain admission to one-half a million regime-affiliated common service centers that will help farmers in rural areas register on the Agri10x platform.

Indian agriculture industry has huge room for disruption

A report on auction of food produced by Indian farmers suggest that between 69 to 73% of produce left with farmers is sold below the Minimum Support Price (MSP). Due to the failure of government agencies to reach farmers, they are forced to sell the leftovers to middlemen at nearly zero profit.

Agri10x CEO Pankajj Ghode said in a statement that their platform will remove middlemen and engage farmers directly with buyers:

"Our aim is to 'Connect Local Farmers with Global Buyers' that would non but increment their income levels only will also massively boost employment in the agriculture manufacture."

Considering the present condition of Indian farmers, if Agri10x is able to deliver to its hope of connecting farmers across India to both local and global buyers, it can significantly improve farmer's income.

Agri10x COO Abhijith Naraparaju stated that Agri10x will exist expanding its services from the country level to a national level. They are aiming to onboard more than iii million farmers on their platform by the terminate of this year.

Government's rising involvement in blockchain for agriculture

Both the Indian state and cardinal governments have been actively looking into ways to accelerate agronomics with the help of blockchain technology.

In Baronial 2022, Cointelegraph reported that the 2d largest Indian country Maharashtra was planning to use blockchain in supply chain and agricultural marketing. In March, the Indian Ministry of Commerce and Industry had announced that the Java Board of India launched a pilot blockchain-based eastward-market place in order to integrate coffee farmers with the markets.