IFFCO Retains Top Spot as World's Number one Cooperative

The Indian Farmers Fertiliser Cooperative Limited (IFFCO) has once again secured the prestigious title of the Number One Cooperative among the top 300 cooperatives globally. It signifies that IFFCO is contributing significantly to the GDP and economic growth of the nation. The ranking is based on the ratio of turnover over gross domestic product (GDP) per capita. It relates the turnover of the enterprise to the wealth of the country according to the 2023 edition of the 12^th Annual World Cooperative Monitor (WCM) report published by the International Cooperative Alliance (ICA). 

IFFCO has ascended to the 72nd position in the overall turnover ranking, a significant jump from its previous standing at 97th place, further solidifying its stature as a global leader in the cooperative movement. IFFCO along with its 35,500-member cooperative societies, 25,000 PACS, and 52,400 PMKSK centers progressing towards its mission of prosperity through cooperatives and Atmanirbhar Bharat. 

Commenting on retaining the top position in consecutive years, Dr. Uday Shankar Awasthi, Managing Director, IFFCO said, “It is a proud moment for us at IFFCO and the Indian Cooperative Movement as well. At IFFCO, we are always committed towards the mission of increasing farmers’ income ensuring the wholesome growth of farmers across the nation, and strengthening the cooperative movement. We believe in innovation as it is the key to success that is why we introducing Nanotechnology-based solutions for agriculture, especially alternative fertilizers, beginning with IFFCO Nano Urea Liquid which has been received very well by the Indian farmers. Later, IFFCO launched IFFCO Nano DAP which was recently mentioned in the Annual Budget of the Government of India. I congratulate each and every one at IFFCO and the entire cooperative fraternity of the country for this momentous achievement.”

In line with the government's vision of "Sahkar Se Samriddhi," IFFCO has pioneered groundbreaking innovations in agriculture, including the development of the World’s First Nano Urea and Nano DAP for farmers.  Support from the Union Ministry of Cooperation has given an impetus to these efforts. The recognition of IFFCO's exemplary contributions in the World Cooperative Monitor report serves as a testament to India's thriving cooperative movement and its unwavering dedication to realizing the vision of self-reliant agriculture. 

In recent years, IFFCO has been striving to change the agriculture scenario in the country. Working on the vision of Agriculture 2.0, IFFCO has invested in and has introduced pathbreaking agrotechnology including nanotechnology-based fertilizers, promotion of Agri-drones, rural e-commerce, digital enablement of farmers and farms, Internet of Things (IoT), etc. IFFCO aims to be the flag-bearer of modern Indian Agriculture, by being the brand that resonates with innovators and progressive rural entrepreneurs.

The report is the 10th annual edition 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 primarily COVID and Climate Change.