IFFCO has been ranked Number 1 Cooperative among top 300 cooperatives in the world, withholding its position from last year. 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 2021 edition of the 10th Annual World Cooperative Monitor (WCM) report published by International Cooperative Alliance (ICA), claims a press release sent by IFFCO.
IFFCO has also stepped up to 60th Position in overall Turnover ranking from 65th position in last financial year.
Reacting to this development IFFCO MD Dr. U S Awasthi stated that, “It is a proud moment for IFFCO and Indian Cooperative Movement as well. At IFFCO, we are always committed towards the mission of PM for doubling farmers’ income ensuring wholesome growth of farmers across the nation strengthening the cooperative movement.
He further said, “We believe in Innovation as it is the key to success that is why we introduced nanotechnology based solutions for agriculture especially alternative fertilizers, beginning with World’s 1st IFFCO Nano Urea Liquid. IFFCO Nano Urea liquid has been well received by the Indian farmers which has strengthened our resolve. We will be soon launching IFFCO Nano DAP and other nanotechnology based products. I congratulate everyone at IFFCO and entire cooperative fraternity of the country for this big achievement.”
IFFCO being featured in the report is the testament of Indian Cooperatives’ zeal towards realizing the mission of Atmanirbhar Bharat and Atmanirbhar Krishi while promoting the Make in India project.
Driven by the Honourable Prime Minister Narendra Modi’s vison of Sahkar se Samridhi IFFCO continues to push towards innovation with successful launch of nanotechnology based IFFCO Nano Urea Liquid which is a product which has the potential to revolutionize the way we do agriculture. Support from the newly created Union Ministry of Cooperation led by Honourable Home Minister Amit Shah Ji has given an impetus to efforts.
With Nano DAP and other innovative products in the pipeline, IFFCO is only going have even greater impact on the global cooperative stage with improving ranking being an indication for the same.
The International Cooperative Alliance (ICA) and the European Research Institute on Cooperative and Social Enterprises (Euricse) launched today the 2021 edition of the World Cooperative Monitor during an international webinar.
The report is the 10th annual one and explores the economic and social impact of the largest cooperatives and mutual worldwide, providing a ranking of the Top 300, sector rankings, and an analysis of responses to the current global challenges: Covid and climate change.