Abstract
The dairy business holds significant importance in the Indian economy. This study examines the feasibility of employing value chains to mitigate financing risks and improve the creditworthiness of small and marginal farmers (SMF), with a specific emphasis on the Indian setting. This study thoroughly examines the obstacles encountered by smallholder and medium-scale farmers (SMFs) in obtaining financing. It explores alternate strategies for enhancing financial inclusivity for small-scale dairy producers. This paper suggests adopting and utilising novel financial instruments, such as the Farmers’ Choice Card Loan, Contract as Collateral, and a platform based on Blockchain technology. The aforementioned innovative approaches offer distinct avenues for tackling the financial requirements of dairy farmers in India, making a significant contribution to the advancement of sustainable agricultural practices and the promotion of economic self-sufficiency. This paper highlights the significance of fostering collaboration among financial institutions, dairy cooperatives, government bodies, and agricultural firms to deploy these innovative financial instruments effectively. Implementing these strategies can stimulate the expansion and advancement of the dairy sector, augmenting the socioeconomic circumstances of dairy farmers in India.
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