In the list of World Cooperative Monitor report 2020 published by ICA, Kerala based Uralungal Labour Contract Cooperative Society (ULCCS) has also ranked at Second position in the list of sector rankings.
In the Industry and Utilities category, ULCCS has been named on the second position, just below Spain based Corporation Mondragon. This ranking is based on the ratio of turnover over gross domestic product (GDP) per capita.
The Industry and Utilities section includes cooperatives operating in industrial sectors with the exception of the food industry as well as those whose economic activity deals with utilities. It includes worker cooperatives in the construction sector and users’ cooperatives in the utilities sector, that is, cooperatives that are active in the management of infrastructure for a public service, such as electricity, natural gas, and water.
The sector rankings edition is based on data from 2018. To create the Top 300 and sector rankings based on U.S. Dollars (USD) the 2018 average exchange rate was utilized. Note that the conversion to USD from Local currency unit (LCU) is impacted by the fluctuations from year to year.
After analysing the World Cooperative Monitor 2020, Indian Cooperative learnt that from India three cooperatives including IFFCO, GCMMF, Kribhco and ULCCs figure in the list. There are many international cooperatives there but three co-ops have made India proud.
It bears recall that in 2019, Uralungal Labour Contract Co-operative Society- based at Vadakara in Kerala received membership to the global body in a glittering event.
Usually ICA permanent membership is awarded to national apex bodies of co-operatives but ULCCS has been selected based on the performance of the society during the last 94 years. It was the first Primary Co-op Society that became the ICA member.
The World Cooperative Monitor is a project designed to collect robust economic, organizational, and social data about cooperatives worldwide. It is the only report of its kind collecting annual quantitative data on the global cooperative movement.
2020 marks the ninth edition of this annual research report produced by the ICA with the scientific and technical support of the European Research Institute on Cooperative and Social Enterprises (Euricse).