40 Million Farmers To Benefit As This IT Stock Eyes Global Carbon Markets With New MoU

A non-binding Memorandum Of Understanding (MoU) has been signed between Bartronics India Limited, a publicly traded IT company, and Net Zero Initiative Private Limited (RenewCred), an Indian climate tech startup developing a blockchain-enabled carbon credit registry.

With this MOU, Bartronics enters the rapidly expanding Climate Tech and Agri-Tech market, marking a strategic step under its new leadership that will help 40 million farmers and rural dwellers with carbon credit opportunities.

"Through this collaboration with RenewCred, Bartronics aims to create a clear and straight pathway for farmers to participate in Global carbon markets by adopting agricultural practices that are sustainable and improve soil health as well as generate verified Carbon credits.These credits can further be monetised which can emerge as an additional income stream for farmers and contribute to strengthening of India's Rural Economy," said the IT company in a stock exchange filing.

"This MoU is about putting farmers at the center of the climate economy. For years we have worked towards strengthening financial inclusion in rural India and now we see an opportunity towards enabling farmers to benefit from the carbon credit ecosystem." said N. Vidhya Sagar Reddy, Managing Director of Bartronics India Limited. "By partnering with RenewCred we are opening up global markets for Rural Communities and helping them build a resilient livelihood," N. Vidhya Sagar Reddy further added.

Mr. Abhimanyu Rathi , Founder & CEO of RenewCred said "At RenewCred, our mission has always been to make carbon markets accessible, scientifically credible and transparent. This collaboration with Bartronics allows us to extend our mission to India's vast farming communities who are crucial for climate action and create a trustworthy pathway for them to monetize and benefit from carbon credits. This partnership is not just about technology but about empowering rural communities with sustainable income opportunities."

Bartronics aims to take advantage of its extensive farmer network to open up global sustainability alternatives while ensuring that the benefits reach rural communities directly. By 2030, carbon markets are expected to reach multibillion-dollar heights worldwide. In light of this growth, Bartronics' entry into the Climate Tech space places the company at the center of the rapidly evolving market, with potential that go beyond India into foreign domains.

Bartronics India Limited recently announced that it has been empanelled by the Bank of Maharashtra as a Corporate Business Correspondent (CBC) for a period of 5 years. As part of this partnership, the firm will assist the bank's customer outreach and financial inclusion programs by offering business correspondent services.

The empanelment contract shall start as soon as the empanelment letter is approved, and it may be extended on mutually agreed conditions at the bank's sole discretion. The consideration for the services will be based on the volume of transactions handled, as defined in the forthcoming Service Level Agreement (SLA).

By helping the Bank of Maharashtra's efforts to expand digital and rural banking, Bartronics India's empanelment is a strategic step to bolster its position in the banking services sector.