India to be 3rd largest economy in a few years, cooperatives to be crucial: Shah
PremiumThe Union government is committed to mainstreaming of cooperatives, and milk cooperatives in particular will be expanded to 2 lakh more villages by 2024
NEW DELHI: Union home and cooperation minister Amit Shah on Tuesday said that India will become the third-largest economy in the world by the end of the decade, with the cooperative sector playing a pivotal role.
Speaking at IDF World Dairy Summit 2022, Shah said the Union government is committed to mainstreaming of cooperatives, and milk cooperatives in particular will be expanded to 2 lakh more villages by 2024, which means doubling the coverage area, and this growth engine will be visible to the world soon.
“From 11th position held in 2014, we have moved up to 5th largest economy position in the world recently. By the end of this decade, Indian economy is expected to break in the top three economies. I can assure you when that happens, the world will recognize Indian cooperatives as the new pillar of growth," Shah asserted.
Pointing to the success of dairy cooperatives, he said, “The model is slated to become more robust in coming years." India has about 8 crore dairy farmers, with cooperatives having expanded to 2 lakh villages, he said.
Calling the cooperative structure a great institutional framework for large-scale transformative or socio-economic changes, the minister said considering its leadership positioning in the global dairy business, India should aim to provide good quality and affordable milk and milk products to other countries.
“There are milk starved countries. We should become the most reliable global milk supplier to everyone," he said while adding that to shore up production in the coming years, the country should also look at options to become self-reliant in the machinery used in the dairy industry.
The Summit, being held 48 years after India hosted the International Dairy Congress in 1974, was inaugurated by Prime Minister Narendra Modi, with Union Minister for Fisheries, Animal Husbandry and Dairying Parshottam Rupala and Uttar Pradesh Chief Minister Yogi Adityanath present.
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