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Union Home Minister Amit Shah on Saturday lauded the fertiliser cooperative IFFCO's use of nanotechnology to make IFFCO nano urea liquid. The minister was speaking at the country's first National Cooperative Conference.
Noting it as a revolutionary step, he said, "the entire cooperative community is appreciating this noble effort to change the agriculture sector for the benefit of farmers."
In the conference, the Union Home Minister said that a big company like IFFCO is making farmers partner in its net profit which is based on the core mantra of the cooperative.
IFFCO became a society in the year 1967 with 57 cooperatives. The society has more than 36,000 cooperative members today and distributes its dividends to about 5.5 crore farmers.
"Usually when a very big company makes a profit, a large part of it goes to the owner. But this is not the case in cooperatives. Whatever IFFCO will earn today, every pie will go to the homes of 5.5 crores of farmers and this is called cooperative," stated Shah.
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