On Kisan Diwas, National Commodity & Derivatives Exchange Limited (NCDEX) in association with Securities and Exchange Board of India (SEBI) celebrated the successes of farmers in financial markets by felicitating them all across the country.
The felicitation took place in several places in the country: Ahmedabad in Gujarat, Tibbi in Rajasthan, Kamargaon in Maharashtra, and Bagalkot in Karnataka, organized by SEBI. SEBI felicitated 40 FPOs from these states.
The main event was organized at the SEBI Headquarters in Mumbai. FPO delegates from Maharashtra, Vishwatej FPC from Sangli, Krushi Sagar Farm Cultivators PCL from Amravati and Varhad Bhumi Agro PCL from Washim, and two from Madhya Pradesh, Awantika Aatm Nirbhar FPC, and Mandsaur FPC were invited to the felicitation ceremony at SEBI HQ.
At the event, Arun Raste, MD & CEO, NCDEX Ltd addressed the crowd on the importance of financial inclusion: “While Farmers are the backbone of the rural economy, the new age FPOs, that are a collective of farmers, have the potential to be the new drivers of the Indian rural economy. We at NCDEX are delighted to felicitate these heroes from the farming community, who have graduated to the mercantile world through FPOs. on a day which is celebrated as Kisan Divas. Despite continuous struggle the collectives of farmers have seen stupendous success as exemplified by milk cooperatives. Although the scope of agri marketing on the futures market for them has been limited by policy decisions, we hope that farmers will ultimately derive the benefits of this wonderful platform in days to come thru the tools like risk management, price discovery and add their might to turn this country into a developed country in the next 25 years.”
Ashwani Bhatia, Whole Time Member, SEBI said that, “The farmers should desist from speculation and take full benefit of the available markets. The ecosystem is set in their favor and if SEBI takes any move for a change in the existing rules or arrangements, farmers’ interest will surely be kept in mind. I thank all the farmers for what they are doing for the country and the people of this country.”
Kapil Dev, Chief Business Officer, NCDEX stated: “It’s remarkable to see that agri output marketing is changing fast and the Exchange ecosystem is helping in various aspects. If we see now farmers from the remotest area are managing their price risk using options. This is remarkable and this is revolutionary and this market is bringing farmers at par with any of the seasoned traders where they are trading for a larger reason to safeguard their farming business.”
