According to Union Home Minister Amit Shah, cooperatives in India have transcended conventional limits and emerged as pioneers in cutting-edge fields like digital services and banking.
Today’s cooperatives are becoming more inclusive thanks to technological advancements. In a statement at an event on Monday commemorating the International Year of Cooperatives, he stated, “When we talk about sustainable development today, cooperatives are emerging as an effective medium to embody the core principles of circular economy.”
“In India, cooperatives have now transcended their traditional boundaries and have become a medium for innovation and self-reliance in areas such as digital services, healthcare, education, energy, organic farming, and financial inclusion,” stated Shah, who also oversees the Cooperatives portfolio.
The permanent embassies of Kenya, Mongolia, and India organized the event, which had as its theme “Cooperatives and Sustainable Development: Keeping the Momentum and Exploring New Pathways.”
In an effort to highlight the contribution of cooperatives to the attainment of sustainable development objectives, the United Nations General Assembly declared 2025 to be the International Year of Cooperatives last year.
According to Ekitela Lokaale, Kenya’s Permanent Representative, cooperatives made it easier for the nation’s citizens to obtain financial services through the Savings and Credit Cooperative Organization (SACCO).
Through market access, cooperatives also made sustainable and lucrative agriculture possible, and he added they were already looking into new paths for sustainable development.
Speaking about his nation’s experience, Mongolia’s Permanent Representative N Ankhbayar stated that encouraging international collaboration in the advancement of cooperatives was the way to go.
Instilled with the spirit of cooperation found in ancient Sanskrit literature, the cooperative sector has been essential to the development of the country for over a century, according to P. Harish, India’s Permanent Representative.
According to Shah, “cooperation has been the soul of Indian values for thousands of years.” Prime Minister Narendra Modi has now turned cooperation into a movement led by the people under the motto “Sahkar Se Samriddhi” (Prosperity via Cooperation).
As “a testament to the power of collective strength,” cooperatives in India are founded on “a cultural consciousness based on the fundamental principles of partnership, transparency, and social justice, guiding us from the path of ‘I’ to ‘we.'”
In order to improve food security, guarantee organized markets, and provide farmers better prices, India is creating the largest grain storage program in the world, which will be carried out through cooperatives, he stated.
According to him, three multi-state cooperative societies have been established in order to give farmers direct access to international markets and guarantee that they receive a just portion of the profits from exports: Bharatiya Beej Sahkari Samiti Limited (BBSSL), National Cooperative Organics Limited (NCOL), and National Cooperative Exports Limited (NCEL).
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