Once again IFFCO has won laurels: it has been ranked 43rd in a list of India’s 300 largest companies compiled by fortune Magazine. It is the only cooperative in the country figuring in the 300 list.
According to a report IFFCO has improved its position by almost ten positionss. It was ranked 53rd last year.
Announcing the news Managing Director Dr U S Awasthi who has been working hard to take the cooperative giant to greater heights tweeted “Glad to share #IFFCO ranked 43 in Fortune500. Gaining new heights #Cooperative growth in #India #50Years of IFFCO”.
After sharing the news on Social Media, the MD followers on twitter greeted him and said It’s a matter of pride for farmers and cooperatives of India.
One of his followers tweeted “Many Congratulations to IFFCO. Reinforces the fact that cooperatives can add great economic value”. “Sir, Congratulations, huge credit goes to ur visionary leadership & hardwork of employees under ur able guidance, said another follower.
The rankings were based on many factors, including innovation, people management, use of corporate assets, financial soundness, long-term investment and global competitiveness.
The list of Fortune 500 companies is compiled annually and this is the second list of Fortune 500 companies compiled by the Indian edition of Fortune Magazine.
