Updated February 22nd, 2024 at 19:48 IST

IFFCO secures first position among top 300 cooperatives globally

The cooperative rose to the 72nd position in the overall turnover ranking, up from 97th in the previous year.

Reported by: Business Desk
IFFCO secures first position among top 300 cooperatives globally | Image:Official website
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IFFCO tops globally: Indian Farmers Fertiliser Cooperative Ltd (IFFCO) has secured the top position among the world's top 300 cooperatives for the second consecutive year. The ranking, published in the 2023 edition of the 12th Annual World Cooperative Monitor (WCM) report by the International Cooperative Alliance (ICA), is based on turnover relative to gross domestic product (GDP) per capita.

In the overall turnover list, the cooperative moved up to 72nd from 97th the year before.

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Cooperative endeavours

With 35,500 member cooperative societies, 25,000 PACS, and 52,400 Pradhan Mantri Kisan Samriddhi Kendra (PMKSK) centres, it is actively advancing the goals of 'Atmanirbhar Bharat' (self-reliant India) and 'Atmanirbhar Krishi' (self-reliant agriculture), demonstrating the potential for prosperity through cooperative endeavours. 

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Uday Shankar Awasthi, Managing Director of IFFCO, emphasised the commitment to enhancing farmers' incomes and fostering cooperative growth. He highlighted IFFCO's innovative approach, particularly its development of nanotechnology-based solutions like IFFCO Nano Urea Liquid and Nano DAP Liquid, which have received positive feedback from Indian farmers.

The World Cooperative Monitor, produced by the ICA and EURICSE, provides insights into the economic and social impact of cooperatives worldwide, highlighting their importance in addressing global challenges such as COVID-19 and climate change. 

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(with PTI inputs)

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Published February 22nd, 2024 at 19:48 IST