The newly constituted Task Force on Cooperatives under the aegis of the PHD Chamber of Commerce and Industry (PHDCCI) organized a summit on cooperatives: Building the Foundation of Viksit Bharat’ through 54 New Initiatives of MoC at the PHD House, New Delhi on Wednesday.
A daylong event was concluded with many sessions focusing on the cooperative sector, which were attended by representatives from cooperatives.
In his opening remarks, Head of the Task Force on Cooperatives Vineet Nahata highlighted the key strength of cooperatives in empowering individuals and communities.
He emphasized the role of technology in shaping the movement, urging a deeper exploration and leveraging of technological advancements. He further acknowledged and hoped for stronger collaboration of government initiatives and their symbiotic relationship with cooperative endeavours.
Addressing the participants, IFFCO Director (HR & Legal) and Co-Chair Task Force on Cooperatives, PHDCCI, R P Singh focused on the evolving perspective of industries towards cooperation and synergy through such events. It is deeply rooted in Indian ethos, as even in earlier times, there have been existing societies of various workers, he said.
He emphasized that cooperatives are mutually aided societies and stand on the line of our PM’s slogan as well – ‘Sabka Saath, Sabka Vikas, Sabka Prayas, and Sabka Vishwas.’ The whole concept of cooperatives is based on a consumer-centric economic model. In conclusion, he shared that in Maharashtra alone, there are cooperative initiatives with a work value exceeding 5 thousand crores.
NCUI Deputy CEO Savitri Singh underscored the tremendous strength of cooperatives, describing them as a business model that is empowering individuals, both economically and socially.
She emphasized that cooperatives cover 95% of the country, providing employment and livelihood in remote areas. The cooperative business model can be a critical vehicle for the contribution to Viksit Bharat, she added and further stressed the importance of collaboration at multiple levels and contributions from various stakeholders for effective functioning, she noted.
National Federation of Labour Cooperatives (NLCF) Managing Director Vinay Chauhan expressed appreciation for the government’s initiatives and efforts. He further highlighted the focus of labor cooperatives on protecting workers from exploitation by contractors and commended the government for its 54 initiatives. He also requested the government to provide free hand to cooperative societies.
Cooperative Development Board, ICMAI Chairman, CMA Navneet Kumar Jain emphasized on the role of cooperatives in setting the tone for India’s progress. He highlighted the need for organizational focus on ensuring the success of cooperatives.
The Summit was moderated by Dr. Jatinder Singh, Assistant Secretary General, PHDCCI. Technical sessions were moderated by Rupesh Pandey, Sr. Secretary, PHDCCI.
The event also witnessed the release of the research report titled, ‘Building the Foundation of Viksit Bharat’.
