At the PHDCCI’s National Summit on Innovating Cooperative Models for the 21st Century, held at PHD House, New Delhi, Dr. Ashish Kumar Bhutani, Secretary of the Ministry of Cooperation praised PHDCCI’s efforts in promoting cooperatives through 54 new initiatives by the Ministry of Cooperation (MoC).
Emphasizing the ministry’s goal of ‘Sahkar se Samriddhi’ (Prosperity through Cooperation), Dr. Bhutani highlighted the success of models like Amul and IFFCO, which have significantly improved rural economies. He discussed the transformation of PACS into multimodal entities, enhancing their efficiency and transparency.
He said “With around 1,500 urban cooperative banks and 385 district and state cooperative banks, the ministry aims to leverage technology to provide access to the latest advancements at the lowest costs. The National Cooperative Database, containing data on approximately 8 lakh cooperative societies, was described as a game-changer.”
Dr. Bhutani requested PHDCCI to provide insights and recommendations from the summit, which would be valuable for policymaking. Shri Pankaj Kumar Bansal, IAS, Additional Secretary, Ministry of Cooperation & MD, NCDC, commended PHDCCI for its dedication to the cooperative sector. He emphasized that cooperatives should not be compared with profit-driven companies, as their primary goal is to benefit members.
Mr. Bansal noted the establishment of the Ministry of Cooperation to address sectoral issues related to the economy, GST, and banking. He mentioned the creation of three national-level multi-state cooperative societies under the MSCS Act, 2002, and highlighted the completion of bank computerization to enhance convenience and transparency.
Shri Vineet Nahata, Chair of the Task Force on Cooperatives, PHDCCI, identified the cooperative sector as a sunrise sector crucial for achieving Sustainable Development Goals (SDGs). He commended the Ministry of Cooperation for making the sector a key pillar of economic growth. During the COVID-19 pandemic, cooperatives demonstrated resilience, excelling while corporates struggled.
Shri R.P. Singh, Co-chair Task Force on Cooperatives, PHDCCI, emphasized the need for technology and training to develop cooperative officials. Dr. Ranjeet Mehta, Executive Director, PHDCCI, highlighted the role of cooperatives in increasing farmers’ income, given India’s agrarian economy. He stressed integrating cooperatives into various schemes and the startup ecosystem.
Shri Vinay Kumar Chauhan, MD, National Federation of Labour Cooperative Ltd., urged further collaboration with the Ministry to secure work for weaker sections. Shri Vikrant Dogra, Chairman of The Unati Agri Allied and Mkt. Multistate Cooperative Society Ltd., and Shri Navneet Kumar Jain, Chairman, Cooperative Development Board, ICMAI, also shared their insights and support for cooperative initiatives.
The event concluded with the release of a knowledge report titled “Knowledge Pack Summit on Cooperatives.
