IIT gets Rs 35L to set up 3 farmer producer organisations

Tribune News Service

Mandi, March 4

The Indian Institute of Technology (IIT)-Mandi in association with the Enabling Women of Kamand (EWOK) Society has signed a memorandum of agreement (MoA) with National Bank For Agriculture and Rural Development (NABARD) for setting up farmer producer organisations (FPOs) in the district.

NABARD has sanctioned Rs 35 lakh to IIT-Mandi and EWOK Society to set up three farmer producer organisations within the next three years. It would play an important role in enhancing the income of farmers.

Nilay Kapoor, chief general manager, NABARD, said, “The agreement is to develop farmer-friendly equipment. In addition, opportunities will be explored for collaboration in areas such as internet of things in agriculture, watershed, rural mart etc. Our collaboration will go a long way in achieving the dream of doubling farmers’ income.”

An FPO is a group of farm producers, with members as shareholders in an organisation. It is a registered body which deals with business activities related to the farm produce and works for the benefit of the member producers.