In a move to provide employment to the youths of the State, the Indian Institute of Technology (IIT) ISM Dhanbad is preparing a new platform for lac farmers. Such blockchain technology is being developed where farmers and industry will come together on one platform.

Director of the Institute, Professor Rajeev Shekhar informed that the team of Prof. Prashant Bansal and Prof. Ruchika Sehgal of the institute are working on the project along with a professor from the University of Hyderabad.

“Jharkhand is the largest producer of lac in the country. Jharkhand has a contribution of about 8293 tonnes about 54.6 percent in the production of about 16,352 tonnes of lac in India. Jharkhand's Ranchi, Simdega, Khunti and Gumla are the largest lac producing districts across the Country.

There will be no middlemen, due to which the income of the farmers is also expected to increase. A machine is also being developed. It is a matter that the farmers get more benefits from the cultivation of lac,” he added. “From India, 21.3 percent of lac is exported to Bangladesh, 15.3 percent to USA, 12.4 percent to Pakistan, 9.5 per cent to China, 8.5 per cent to Germany and 7.2 per cent to Switzerland. Other countries also import up to 70 per cent of the lac from India itself. In this way, more than half of the total exports from India are sent from Jharkhand to foreign countries,” said Shekhar.

The Institute Director further said that lac is used in making bangles, heat and waterproof polish, lead, metal, plastic, wood and fabric sealing wax.Professor Prashant Bansal is an Assistant Professor in the Department of Management Studies and Professor Ruchika Sehgal is an Assistant Professor in the Department of Mathematics and Computing.

Sehgal said that a web portal and a mobile app would be made for the farmers. “Here the farmers will be directly connected with the lac related industries. Where can they get a loan, what is its process, farmers will be told,” he added.