IFFCO gets highest tax payer award

Awards are coveted by organizations across the world. They come as icing on the cake even for those well known for their contribution. They offer the organizations a moment to celebrate the fact that their work has been recognized.

Indian Farmers Fertiliser Cooperative Ltd (IFFCO), the world's leading fertilizer cooperative, got the highest taxpayer award from the Customs Department at the Deendayal Port Trust, Kandla, Gujarat. The award has again shown IFFCO’s contribution to the growth and development of the economy of our country.

The award brought a proud moment for everyone at IFFCO and for the Indian cooperative movement as a whole. Shri S.K. Mehta, IFoS, Chairman, Deendayal Port Trust, Dr. Amiya Chandra, ITS, Development Commissioner, Kandla Special Economic Zone (KASEZ), and Shri T.V. Ravi, IRS, Commissioner of Customs (Kandla & Mundra) presented the award, which contained a citation plaque, to Shri O.P. Dayama, Senior General Manager (Plant Head, IFFCO Kandla), on the occasion of the International Customs Day celebrated on 27 January 2021 at Gandhidham, Gujarat.

IFFCO is the largest fertilizer manufacturer and marketer in the Indian subcontinent. It has a turnover of Rs. 29,412 crore. Also, it has a global group turnover of Rs 57,778 crore. 

According to the 9th Annual World Cooperative Monitor (WCM) report, IFFCO has been ranked first among the Top 300 global cooperatives as per the ratio of turnover to Gross Domestic Product (GDP). The report, recently published by the International Cooperative Alliance (ICA)  and the European Research Institute on Cooperative and Social Enterprises (Euricse), clearly indicates that IFFCO is contributing immensely to the GDP and the overall economy of the nation. Fortune India 500 for the year 2020 has also ranked IFFCO 57th amongst the Top 500 Indian companies. IFFCO has moved one position up from last year.

IFFCO is one of the world’s largest cooperative societies and is wholly owned by Indian cooperatives engaged in the manufacture, sale and distribution of fertilizers. Founded in 1967 with just 57 cooperatives, it is an amalgamation of over 35,000 cooperatives today, with diversified business interests ranging from general insurance to food processing and presence in Oman, Jordan, Dubai and Senegal. With five fertilizer manufacturing facilities in India and an extensive pan-India marketing network. every third bag of phosphatic fertilizers and every fifth bag of urea marketed in India is handled by IFFCO.

During 2019-20, IFFCO produced 9.14 million tonnes of fertilizers and sold approximately 13.33 million tonnes to Indian farmers. It has always contributed to the inclusive and holistic development of the Indian farming community and Indian agriculture through its inclusive business model, which involves the cooperatives of the country. Several of its development initiatives like the Cooperative Rural Development Trust (CORDET), the Indian Farm Forestry Development Cooperative Ltd (IFFDC) and the IFFCO Kisan Sewa Trust (IKST) work specifically in this direction. IFFCO has also invested in food processing & organics.