APEDA inks MoU with NAFED

APEDA inks MoU with NAFED

Part of: GS Prelims and GS -III – Economy

In news the Agricultural and Processed Food Products Export Development Authority (APEDA) signed Memorandum of Understanding (MoU) with National Agricultural Cooperative Marketing Federation of India Ltd (NAFED).

About the MoU

• Objective of the MoU: For harnessing exports potential of agricultural and processed food products of cooperatives and Farmer Producer Organizations (FPOs)

• The key areas of cooperation include facilitating APEDA registered exporters getting assistance under all the schemes implemented through NAFED. 
• The MoU shall ensure sustainability and growth of exports by Cooperatives by addressing issues such as technology, skill, quality products and market access.
• It will also facilitate participation of Farmers’ Cooperatives in global trade

What is Agricultural and Processed Food Products Export Development Authority (APEDA)?

• It is an apex body under the Union Ministry of Commerce and Industry responsible for the export promotion of agricultural products. 
• It was established under the APEDA Act of 1985.
• Functions 
  • Promotion of exports of agricultural and processed food products. 
  • Promotion of export oriented production and development of the Scheduled products.
  • To make Improvement in areas such as packaging
  • Setting standards and specifications for the scheduled products 
  • Financial assistance, reliefs and subsidies to the related industries.
  • Provide training in the related areas

What is National Agricultural Cooperative Marketing Federation of India Ltd (NAFED)?

• It is an apex organization of marketing cooperatives for agricultural produce in India.
• It was founded on 2nd October 1958.
• It is registered under the Multi-State Co-operative Societies Act, 2002.
• NAFED is now one of the largest procurement as well as marketing agencies for agricultural products in India.
• Objectives: 
  • (1) To organize, promote and develop marketing, processing and storage of agricultural, horticultural and forest produce; 
  • (2) To distribute agricultural machinery, implements and other inputs; 
  • (3) To act and assist for technical advice in agricultural production

News Source: PIB