The Indian Farmers Fertiliser Cooperative Limited (IFFCO) has once again emerged Number One among top 300 cooperatives in its category in the world, making not only the cooperative sector but also India proud.
“The ranking is based on the ratio of turnover over gross domestic product (GDP) per capita. It signifies that IFFCO is contributing significantly to the GDP & economic growth of the Nation. It relates the turnover of the enterprise to the wealth of the country according to the 2020 edition of the 9th Annual World Cooperative Monitor (WCM) report published by International Cooperative Alliance (ICA)”, states a press release by the co-op titan.
“On the lines of “Modi hai to Mumkin hai”, IFFCO has continuously witnessed “Awasthi hai to Asan hai” (It is easy if Dr U S Awasthi is at the helm)”, said IFFCO’s Vice-President Dileep Sanghani on the phone from Ahmedabad while congratulating the entire team including Chairman B S Nakai for the spectacular performance. With more than 36,000-member cooperatives and a group turnover of nearly 7 billion dollars, it is amongst the biggest cooperative institutions in the world, he added.
IFFCO has also stepped up to 65th Position in overall Turnover ranking from 125th position in the overall turnover- a remarkable feat for any organization to achieve in a short period of one year.
The International Cooperative Alliance (ICA) and the European Research Institute on Cooperative and Social Enterprises (Euricse) launched today the 2020 edition of the World Cooperative Monitor during an international webinar. The report is the 9th annual one and explores the economic and social impact of the largest cooperatives and mutuals worldwide, providing a ranking of the Top 300, sector rankings, and an analysis of responses to the current global challenges: Covid and climate change.
Reacting to the good news Dr U S Awasthi, MD, IFFCO said, “It is a proud moment for IFFCO and Cooperative as well. A great achievement for all of us in Indian cooperative movement. At IFFCO, we are always committed to the growth of farmers across the country and strengthening the Indian Cooperative movement. We believe in Innovation as it is the key to success. I congratulate everyone at IFFCO and the entire cooperative fraternity of the country for this big achievement.”
IFFCO has been making India proud for the last so many years at the International Cooperative Arena. It holds a strong position as Aditya Yadav, Director, IFFCO represents IFFCO on the Global Board of ICA. Tarun Bhargava, Head (CR), IFFCO is the Chairperson of International Cooperative Entrepreneurship Think Tank (ICETT) and Executive Committee Member of ICAO, the Global Agricultural Arm of ICA, the release says.
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.
The International Cooperative Alliance (ICA) is the voice for cooperatives worldwide, representing more than 315 cooperative federations and organisations across 110 countries. The ICA works with global and regional governments and organisations to create the legislative environments that allow cooperatives to form and grow.
EURICSE is a research institute based in Trento (Italy), whose mission is to promote knowledge development and innovation for the field of co-operatives, social enterprises and other non-profit organizations engaged in the production of goods and services, and to deepen the understanding of these types of organizations and their impact on economic and social development.
