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MoU between Spices Board India and UNDP India

Part of: GS Prelims and GS – III – Economy; Supply chains

In news

Spices Board India and UNDP India’s Accelerator Lab signed a MoU.
Aim: To build a blockchain based traceability interface for Indian spices to enhance transparency in supply chain and trade.

It will start with over 3,000 farmers engaged in chilli and turmeric farming in select Districts of Andhra Pradesh.
Blockchain is a decentralized 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, retailers and consumers, thus simplifying the supply chain.

Do you know?

Spices Board is one of the five Commodity Boards functioning under the Ministry of Commerce & Industry.
It is an autonomous body.
It is responsible for the export promotion of the 52 scheduled spices and development of Cardamom (Small & Large).

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