Government of Karnataka had constituted a committee under the chairmanship of the Additional Secretary to Government, Co-operation Department to explore means to improve the agricultural marketing system, identify the interventions required in the sector and suggest necessary reforms.
The Committee after discussing with all stakeholders and visiting regulated markets in the state & the NeML at Mumbai to understand nationwide electronic trading of commodities submitted its report to the Government on 15.05.2013. Government accepted the report and adopted the Agricultural Marketing Policy for implementation in the state.
ReMS was set up to implement the Agricultural Marketing Policy as a joint venture company, with Government of Karnataka and the NeML having shareholding of 50 per cent each.
The logo of ReMS with varying colors, symbolizes markets that are of varying sizes, complexity and location well integrated to form a unified market, be it in the state or the country. The name of the Company in green color represents the focus of the Company on agricultural marketing.