Union Home Minister and Minister of Cooperation Amit Shah launched NAFED's e-auction portal NAFEX.in along with three other initiatives: DRISHTI, ERP, and NAFED Kalyan. The launch event was attended by Union Agriculture Minister Shivraj Singh Chouhan, Minister of State for Cooperation Krishan Pal Gurjar, Ministry of Cooperation Secretary Dr. Ashish Kumar Bhutani, and NAFED Chairman Jethabhai Ahir.
NAFED has undergone significant financial transformation, moving from near closure in 2014 to currently serving 74 lakh farmers with a turnover of ₹30,000 crore and profit of ₹500 crore. The organization's net worth has increased from ₹358 crore to ₹2,050 crore, while net profit grew from ₹139 crore to ₹405 crore. Under the Modi government's transparency initiatives, NAFED has expanded beyond agricultural procurement into organic farming, seed production, retail business, bio-fertilizer manufacturing, food security, and international trade.
The key strategic initiative involves NAFED and NCCF committing to purchase every single grain of pulses directly from farmers within the next two years, ensuring fair and remunerative prices with direct bank account payments within 48 hours. This direct procurement approach aims to eliminate middlemen, increase pulses cultivation area, and achieve national self-reliance in pulses. Infrastructure for direct procurement of pulses, maize, and other produce has been developed over the past three years and will now be expanded to grassroots levels.
NAFED has launched a scholarship program allocating 1% of its profits for higher education and career development of farmers' children. The organization targets increasing its turnover from the current ₹30,000 crore to ₹50,000 crore within the next two years through these expanded operations and direct farmer engagement initiatives.