• 6 Apr 2010

Reuters Market Light wins Award for Innovation

tr_rml_ar

Information Service for Farmers in India

Reuters Market Light  (RML) was recognized as the first personalized professional information service to the farming community in India. The Financial Times-Justmeans Social Innovation Awards launched last year to recognize the latest concepts and practical applications that advance social needs and better business. "Base of the pyramid strategy" refers to companies that have created innovative market and social opportunities by providing goods and services to the part of the world's population that lives on less than $2 a day.

Text Messages on Weather, Market Prices, Agriculture News
and Crop Tips

Since its launch in 2007, over 200,000 farmers in 15,000 villages across 10 states in India have subscribed to RML. It provides localized and personalized information via SMS text messages on weather, market prices, local and international agriculture and commodity news, and crop advisory tips enabling farmers to make informed decisions, reduce waste and maximize their profits.

Making a Positive Contribution

This award is the latest recognition for Reuters Market Light. In 2008 it was named by the United Nations as one of the business initiatives that have the potential to contribute to the Millennium Development Goals. RML has been widely featured in leading media including the Economist, BBC, and Wall Street Journal and is used as a case study in several leading academic institutes including London Business School and Cambridge University.

Knowledge to Act - Help for Emerging Markets

RML employs more than 300 full-time content professionals, offering news and data on more than 150 crops, 1,000 markets and 2,000 weather locations across 12 states of India. The service crossed the $1 million sales mark in 2009. As the business model becomes established in India and as our distribution and marketing strategy matures, we expect to expand the benefit of our pioneering business to millions of farmers in India, and to other emerging markets in the near future.