Cooperative sector to play a key role in India’s growth: Amit Shah

NEW DELHI: Cooperation minister Amit Shah on Monday said India is set to become the world’s third largest economy in a few years with the cooperative sector playing a key role in the country’s development.
He said that under the leadership of PM Modi India had become the 5th largest economy and the country will become the world’s third-largest economy a few years from now in which the cooperative sector will also play a crucial role.
“India was the 11th largest economy in the world in 2014 and now it has become the fifth largest. I am fully confident that in a few years from now, we will reach the third position,” Shah said at the International Dairy Federation World Dairy Summit. PM Narendra Modi had inaugurated the event earlier in the day.
Shah, who is also the home minister, said the government will help set up two lakh new dairy cooperatives at the village level by 2024. He asked the dairy industry to adopt professionalism, latest technology, computerisation, and digital payment in a big way else it could face difficulties going forward. He asked the dairy industry to boost milk production for meeting rising domestic demand and also for supplying to poor nations.
He also exhorted the industry to become self-sufficient in the manufacturing of machinery used for milk processing. Stating that the summit is being organised after a gap of 48 years, Shah said the country has now become self-sufficient in milk production and also an exporter.
Shah said dairy cooperatives have played a big role in women empowerment and also in fighting malnutrition. “Cooperative sector and dairy cooperatives have worked a lot in rural development,” he added.
Shah asked the dairy industry to make natural farming its lifeline as this would improve the health of people and also strengthen the economic system. By the end of this month, Shah said Amul will set up an export house to promote organic products. The minister also shared the success story of Amul, whose annual turnover has reached about Rs 60,000 crore.
Shah highlighted that 77 per cent of retail prices of milk are passed on to farmers as against 40-45 per cent in the world. In his address, UP CM Yogi Adityanath said there is a huge scope for growth of the cooperative sector in the state.