The 44th AGM of the world’s largest framers’ cooperative IFFCO was held in New Delhi on Thursday in an atmosphere of hope and optimism. The sense of pride and achievement could easily be discerned among the delegates who were jubilant because the cooperative giant had grossed the highest profit in a rather depressing global economic scenario.
The cooperative giant has embarked on modernization by transferring the 20 percent dividend into the accounts of its member societies online. It led to a funny excitement for many of the delegates who received mobile massages while the AGM was still in progress.
Keeping pace with the emerging technology the IFFCO AGM had opened Tweeter Stall aimed at enlisting members for fast and effective communication. IFFCO MD Dr U S Awasthi a great technology and communication enthusiast is personally spearheading this campaign, a source informed Indian Cooperative.
In his presidential speech Mr B S Nakai announced to a packed NCUI Auditorium that IFFCO is growing from
strength to strength year after year. Announcing the profit of Rs 1040 crore for the past fiscal he gave a future road map of continual growth for the cooperative behemoth to the applause of the assembled delegates. But his announcement of the Board’s decision to re-appoint Dr U.S. Awasthi for the next five years received the most rapturous applause.
Mr Nakai also proudly referred to the international body “Cooperative Monitor” which recently adjudged IFFCO as the biggest farmers’ cooperative in the world. His announcement for 20 percent dividend continually for 14th year was received with glow on the face of delegates.
Talking about the Modi govt emphasizing direct transfer of subsidies to the accounts of beneficiaries, IFFCO Managing Director Dr U S Awasthi said ” mobile banking is our future and we have to brace ourselves for it. We could transfer the dividend to 30,800 societies out of 35,550 within 52 days of the completion of Financial Year on the strength of the mobile banking. He exhorted the left-out members to contact area manager or even him directly to get onto an online mode.
Spotlighting the benefits of direct subsidies which the MD has been doing for quite some time now Dr Awasthi said the Modi government’s move is highly appreciable and IFFCO fully supports the govt on the issue. He however cautioned the farmers that the money thus got into accounts must only be spent on fertilizers so that their life-conditions improve.
The theme of the excessive use of urea could not escape his attention as the MD informed the farmers about the ill-effects the excessive use of urea has caused in the states of Haryana, Punjab and Andhra Pradesh. He referred to the recent experiences where less urea had been used, soils were better off fighting flood and rough weather -conditions.
Describing the AGM as “owners meet” as member-farmers are the real owners of the cooperative giant, IFFCO MD asked them to feel free in registering their grievances and suggestions either for the state govt or the Central govt through IFFCO Kisan Sanchar Limited.” You have been writing to me directly in the past and you are welcomed to do so in future as well ; we would take up the matter with the respective governments,” he added.
“Farmers are at the centre of the IFFCO activities and we rack our brain as to how their lives could be improved. We have invited the MD of IFFCO-Tokio to tell you how to keep your home, your life safe with the help of insurance. Our sister body has launched some useful schemes for rural areas and you should make most of it”, MD said.
The IFFCO Managing Director touched upon several issues such as necessity of the viability of a business model and sought the cooperation of members. He also did not forget to appreciate the IFFCO Jordan team which continues to produce despite being in the shadow of ISIS terror.
“Do not think that he got elected to the ICA Board since he belongs to a famed political family; he got there on the
strength of his labour, dedication and zeal, Awasthi said referring to Aditya Yadav who made it to ICA after several failed attempts.
But farmers and cooperatives were the crux of his speech. He said ” as long as the cooperative movement is there farmers are there. Being predominantly agricultural , India cannot afford to ignore the movement and those governments that have strengthened the movement have done well in the past,” he added.
IFFCO Vice-Chairman N P Patel proposed a vote of thanks.
