IFFCO ranks No. 1 among 300 cooperatives in the world
IFFCO has been ranked number one among the top 300 cooperatives in the world, according to the 2021 edition of the 10th annual WCM report published by the ICA. It has retained its top position from last year. The ranking is based on the ratio of turnover to GDP per capita. IFFCO has also stepped up to the 60th position in the overall turnover ranking from being 65th in the last financial year.
New Delhi
The Indian Farmers Fertiliser Cooperative Limited (IFFCO) has been ranked number one among the top 300 cooperatives in the world, according to the 2021 edition of the 10th annual World Cooperative Monitor (WCM) report published by the International Cooperative Alliance (ICA). It has retained its top position from last year.
The ranking is based on the ratio of turnover to gross domestic product (GDP) per capita. IFFCO has also stepped up to the 60th position in the overall turnover ranking from being 65th in the last financial year.
Dr US Awasthi, MD, IFFCO said, “It is a proud moment for IFFCO and the Indian cooperative movement as well. At IFFCO, we are always committed towards the mission of PM for doubling farmers’ income, ensuring wholesome growth of farmers across the nation strengthening the cooperative movement.”
He further said, “We believe in innovation as it is the key to success. That is why we introduced nanotechnology-based solutions for agriculture, especially alternative fertilizers, beginning with the world’s 1st IFFCO Nano Urea Liquid. … We will be soon launching IFFCO Nano DAP and other nanotechnology-based products.”
IFFCO being featured in the report is a testament to the Indian cooperatives’ zeal towards realizing the mission of Atmanirbhar Bharat and Atmanirbhar Krishi while promoting the Make in India project. Driven by Prime Minister Narendra Modi’s vision of Sahkar se Samriddhi, IFFCO continues to push towards innovation, said an IFFCO statement. Support from the newly created Union Ministry of Cooperation led by Amit Shah has given an impetus to efforts.
ICA and the European Research Institute on Cooperative and Social Enterprises (Euricse) launched the 2021 edition of the World Cooperative Monitor during an international webinar. The report is the 10th annual one and explores the economic and social impact of the largest cooperatives.
IFFCO holds a strong position in the international cooperative arena. Aditya Yadav, Director, IFFCO represents IFFCO on the Global Board of ICA. Tarun Bhargava, Head (CR), IFFCO is the Chairperson of the International Cooperative Entrepreneurship Think Tank (ICETT) and Executive Committee Member of ICAO, the global agricultural arm of ICA.
