DMCC, Cropdata ink agreement to boost trade

DUBAI- DMCC has signed a strategic partnership with CropData Technology to develop a digital pan-India agricultural trading marketplace, during the Indian Prime Minister, Narendra Modi’s, visit to intensify economic corporation and enhance bilateral trade between the two countries.

Under the agreement, DMCC will develop a digital platform, which will eventually connect up to 500 logistic hubs throughout India, by streamlining the forward sale of farm outputs. With over 14,000 companies in its Free Zone, DMCC will also act as a gateway for increasing agriculture trade between the two countries. Built on blockchain technology, the DMCC and Cropdata Technology partnership forms the largest technological initiative of its kind in the region, and is due to be operational this year in two states in India. Ahmed bin Sulayem, Executive Chairman of DMCC, said, "The UAE and India are on a steep mission to grow cross-border collaboration. This is exciting, and we are delighted to introduce new technology that will further facilitate and increase trade between our two countries". Gautam Sashittal, Chief Executive Officer at DMCC, said, "This online marketplace will be the first such collaboration in the agricultural space between the two countries and will complement the Indian government’s eNAM, electronic National Agriculture Marketing, initiative."