e-SANTA, an electronic marketplace

Union Commerce and Industry Ministry inaugurated e-SANTA, an electronic marketplace platform to connect aqua farmers and buyers.

Context

Union Commerce and Industry Ministry inaugurated e-SANTA, an electronic marketplace platform to connect aqua farmers and buyers.

About the e-SANTA initiative

• Digital: It is a digital platform to bring the aqua market divide to end.

  • e-SANTA is a paperless and end-to-end electronic trade initiative between Farmers and exporters.

• The term e-SANTA denotesthe web portal that stands for Electronic Solution for Augmenting NaCSA farmers' Trade-in Aquaculture. 

Significance of e-SANTA

• It will enable the farmers and exporters, to get a better price and to directly purchase quality products from the farmers.
• It will help in enhancing traceability which is a key factor in international trade.
• It will help in reducing the role of a middleman.
• e-SANTA will RAISEthe lives & income of farmers by:
  • Reducing Risk
  • Awareness of Products & Markets
  • Increase in Income
  • Shielding Against Wrong Practice
  • Ease of Processes

How will it work?

• Enlisting:The farmers will have to enlist their produce and quote their price while the exporters have the freedom to list the requirements and also to choose the products based on their requirements.

• Deal: A deal is struck, advance payment is made and an estimated invoice is generated.

• Procedure:Once the harvest date is fixed, the buyer goes to the farm gate and the produce is harvested in his presence.

  • Once the harvest is completed, the final count, quantity of material is verified, the final amount is decided and the delivery challan is issued.
  • Once the material reaches the processing plant, the final invoice is generated and the exporter makes the balance payment.
  • This payment is reflected in the escrow account.

• NaCSA verifies it and accordingly releases the payment to farmers.