Spices Board, UNDP India ink MoU for blockchain-powered traceability interface
New Delhi, Apr 5 (FN Agency) Spices Board India under Ministry of Commerce and Industry and UNDP India’s Accelerator Lab on Monday signed a Memorandum of Understanding (MoU) to build a blockchain based traceability interface for Indian spices to enhance transparency in supply chain and trade. UNDP and Spices Board India are working towards integrating the Blockchain Traceability Interface with the e-Spice Bazaar portal developed by Spices Board India for connecting spices farmers with markets, Ministry of Commerce and Industry said in a statement.
Design of the Blockchain interface is expected to be completed by May’21. The project will be piloted with over 3,000 farmers engaged in chilli and turmeric farming in select Districts of Andhra Pradesh. Blockchain is a decentralised process of recording transactions on an open and shared electronic ledger. This allows for ease and transparency in data management across a complex network, including, farmers, brokers, distributors, processors, retailers, regulators, and consumers, thus simplifying the supply chain. It will allow farmers just as all other members of the supply chain to access the information which further makes the entire supply chain more efficient and equitable.
Speaking on the collaboration, Ms Shoko Noda, Resident Representative, UNDP India, said, “We are confident that the blockchain interface will help connect the spice farmers with international markets and add to their income. The technology can also help in rebuilding the pandemic affected supply chains by providing trading partners and consumers with trusted and secured data on goods and transactions.”
D Sathiyan, Secretary, Spices Board India said that the changing order in the global spices and food sector has increased the relevance of infrastructure development for value addition, certification for quality and food safety, implementation of traceability systems, promotion of spices highlighting the immunity boosting properties, among other, and the Board has been working tirelessly to provide support to the stakeholders of the sector and to strengthen the supply chain so as to position India as the premier destination for clean and safe spices to the world. This UNDP-Spices Board joint initiative to build a blockchain-powered traceability interface for Indian spices is another significant milestone in our journey to make the spices value chain efficient, transparent and equitable for all stakeholders.