The cooperative sector is known not only for
enriching economically aspiring individuals but also for integrating them into
the mainstream of the economy.
The
cooperative movement holds immense potential as a transformative tool for
uplifting those who lack capital or have only a paltry sum of savings. India is
steadfastly working toward this vision.
Although our nation has had an elaborate history
of cooperatives, the way cooperation became a medium of economic development
before independence was revitalized with even greater energy and strength only
during the tenure of Prime Minister Shri Narendra Modi. In 2021, under the leadership of Prime
Minister Shri Narendra Modi, the government made a landmark decision to open
all previously closed doors for the cooperative sector by establishing a
dedicated ministry of cooperation at the national level. The steps taken to
strengthen the sector have outfitted Bharat in just three years with the
readiness to emerge as a 'Vishwamitra' in the cooperative sector as well.
As a result, India's cooperative movement
today is poised for a historic milestone. The country is set to host the
International Cooperative Alliance (ICA) General Assembly and Global Cooperative
Conference in Delhi from November 25 to 30, 2024. For the first time in the
ICA’s 130-year history, India will serve as its organizer. This event is
particularly significant as it will also mark the advent of the United Nations
International Year of Cooperatives 2025. Bharat hosting the ICA General Assembly and
Global Conference is a testament to the global recognition of our nation’s leadership
position in the cooperative movement.
Since the formation of the BJP government
under the leadership of Prime Minister Shri Narendra Modi, consistent efforts
have been made to uplift the backward, extremely backward, underprivileged, and
marginalized sections of society. The government firmly believes that such a transformation
is not impossible without strengthening the cooperative movement. It is
noteworthy that this significant event coincides with India’s major strides
toward revitalizing its cooperative sector. Comprehensive administrative,
policy, and legal reforms have been undertaken to rejuvenate struggling
cooperative institutions, streamline their operations, and foster transparency
and competition among cooperative societies. Prime Minister Modi’s mantra, 'Sahakar
se Samriddhi' (Prosperity through Cooperation), aims to make the nation's
cooperative institutions self-reliant and robust. By expanding the cooperative
network, a new economic model is being shaped—one that aligns with the Prime
Minister’s vision to build a $5 trillion Indian economy. This model is not only
poised to drive India's growth but also serve as an inspirational framework for
development in other countries around the world.
India's tradition of cooperation dates back
to ancient times, with roots embedded in its cultural and economic practices.
References in Kautilya's Arthashastra highlight collective efforts, such as the
construction of temples and dams for public benefit in villages. Similarly, the
financial systems of South India provide early glimpses of cooperative frameworks. Many economists
trained in western thought systems initiated the discourse at the inception of
the 21st century that the idea of cooperation had become obsolete in the modern
era. However, it is my firm belief that the economic models created by
countries with a population of 30 million, 50 million, or even 100 million are
unlikely to be suitable for a country like India, with a population of 1.4 billion.
In order to build a prosperous nation, it is not only essential to rise in all
indicators of economic growth but also to ensure the prosperity of 1.4 billion
people, provide employment to all individuals, and guarantee them the right to
live with dignity. And this is only possible through cooperation. There are
many examples in our history to substantiate this belief.
The Ahmedabad District Cooperative Bank, for
instance, has achieved a remarkable profit of ?100 crore over the past century.
Not only has it maintained zero Non-Performing Assets (NPA), but it also boasts
deposits exceeding ?6,500 crore. Amul is also a successful example of the
cooperative movement. Presently, 35 lakh families are availing employment and a
dignified life through it, and the women in these families are playing a key
role and leading from the front. As a result, today Amul’s annual turnover has
reached Rs. 80,000 crore. Interestingly, none of these women made an initial
investment of more than Rs. 100.
Under the visionary leadership of Prime
Minister Shri Narendra Modi, the government has introduced over 60 initiatives
to revitalize and strengthen the cooperative movement in India. Years of
neglect and administrative irregularities had left most Primary Agricultural
Credit Societies (PACS) financially weak and inactive. To address this, the
government has expanded the scope of PACS and made them economically viable.
With the adoption of new by-laws, PACS can now engage in over 30 diverse
activities, including dairy, fisheries, grain storage, and running Jan Aushadhi
Kendras. The establishment of three new national-level multi-state cooperative
societies has further enhanced the cooperative ecosystem. The National Cooperative Exports Limited has
opened global market opportunities for farmers, while the National Cooperative
Organics Limited provides platforms for organic certification and market access
to organic products. Bharatiya Beej Sahakari Samiti Limited has ensured the availability
of high-quality seeds to farmers. Additionally, government initiatives like
financial assistance, tax relief, and the ethanol blending program have rejuvenated
cooperative sugar mills. To strengthen the cooperative banking system, a policy
emphasis has been placed on channeling cooperative institutions' funds into
cooperative banks. Efforts to enhance transparency, such as the creation of a
National Cooperative Database, have streamlined operations and extended the
cooperative movement to underdeveloped regions. Furthermore, a comprehensive
and forward-looking National Cooperative Policy is being developed to provide a
robust framework for the sector's growth.
The ICA General Assembly and Global
Conference 2024 will serve as a global platform to showcase India’s remarkable
strides in advancing financial inclusion, eradicating poverty, ensuring gender
equality, and contributing to the achievement of the United Nations Sustainable
Development Goals (SDGs) through its dynamic cooperative movement. A central
agenda of the conference is to create a resilient ecosystem that enables
cooperatives to address emerging challenges and seize new opportunities. It is
imperative for cooperatives worldwide to unite and contribute toward building a
better, more sustainable future for all.
As we prepare to host this historic event, I
extend an open invitation to cooperative leaders, policymakers, and advocates
of human development from across the globe. Together, let us embrace the spirit
of learning, sharing, and collaborating to strengthen the global cooperative
movement. India’s commitment to “Sahakar Se Samriddhi” is not just a vision but
a solemn pledge to build a brighter future grounded in collective prosperity,
sustainability, and shared progress.
