The Indian Farmers Fertiliser Cooperative Limited (IFFCO) is Number 1 Cooperative among top 300 cooperatives in the world. The ranking is based on the ratio of turnover over gross domestic product (GDP) per capita. It signifies that IFFCO is contributing significantly to the GDP & economic growth of the Nation. It relates the turnover of the enterprise to the wealth of the country according to the 2020 edition of the 9th Annual World Cooperative Monitor (WCM) report published by International Cooperative Alliance (ICA). IFFCO with more than 36,000 member cooperatives and a group turnover of nearly 7 billion dollars, it is amongst the biggest cooperative institutions in the world.
IFFCO has also stepped up to 65th Position in overall Turnover ranking from 125th position in last financial year.The International Cooperative Alliance (ICA) and the European Research Institute on Cooperative and Social Enterprises (Euricse) launched today the 2020 edition of the World Cooperative Monitor during an international webinar. The report is the 9th annual one and explores the economic and social impact of the largest cooperatives and mutual worldwide, providing a ranking of the Top 300, sector rankings, and an analysis of responses to the current global challenges: Covid and climate change.
Dr. U S Awasthi, MD, IFFCO said, “It is a proud moment for IFFCO and Cooperative as well. A great achievement for all of us in Indian cooperative movement. At IFFCO, we are always committed to the growth of farmers across the country and strengthening the Indian Cooperative movement. We believe in Innovation as it is the key to success. I congratulate everyone at IFFCO and entire cooperative fraternity of the country for this big achievement.”
IFFCO has done India proud for last so many years on International Cooperative Arena. It holds a strong position as Mr. Aditya Yadav, Director, IFFCO represents IFFCO on the Global Board of ICA. Mr Tarun Bhargava , Head (CR), IFFCO is the Chairperson of International Cooperative Entrepreneurship Think Tank (ICETT) and Executive Committee Member of ICAO, the Global Agricultural Arm of ICA.
About WCM. The World Cooperative Monitor is a project designed to collect robust economic, organizational, and social data about cooperatives worldwide. It is the only report of its kind collecting annual quantitative data on the global cooperative movement. 2020 marks the ninth edition of this annual research report produced by the International Cooperative Alliance (ICA) with the scientific and technical support of the European Research Institute on Cooperative and Social Enterprises (Euricse). Two primary rankings are presented, the first based on turnover in USD and the second based on turnover over GDP per capita. Employment data is also presented for the Top 300 where available.
About the International Cooperative Alliance. The International Cooperative Alliance (ICA) is the voice for cooperatives worldwide, representing more than 315 cooperative federations and organisations across 110 countries. The ICA works with global and regional governments and organisations to create the legislative environments that allow cooperatives to form and grow. Operating from a global office in Brussels, Belgium, the International Cooperative Alliance is organised with four Regional Offices (Europe, Africa, Americas, and Asia-Pacific), and eight Sectoral Organisations (Banking, Agriculture, Fisheries, Insurance, Health, Housing, Consumer Cooperatives, and Service and Industry cooperatives).The International Cooperative Alliance is a non-profit international association established in 1895 to advance the cooperative social enterprise model.
About Euricse. EURICSE is a research institute based in Trento (Italy), whose mission it is to promote knowledge development and innovation for the field of co-operatives, social enterprises and other nonprofit organizations engaged in the production of goods and services, and to deepen the understanding of these types of organizations and their impact on economic and social development. Euricse’s activities aim to reduce the fragmentation in the research on cooperative and social enterprises, and to enhance the visibility of this sector in the scientific and political debate.