IFFCO Retains Number 1 Position in World Cooperative Monitor Report

IFFCO Retains Number 1 Position in World Cooperative Monitor Report

IFFCO, the Indian Farmers Fertiliser Cooperative Limited, has once again secured the top position among the top 300 cooperatives globally, according to the 2023 edition of the World Cooperative Monitor (WCM) report. The ranking, based on the turnover-to-GDP per capita ratio, underscores IFFCO’s substantial contribution to the nation’s GDP and economic progress. Rising to the 72nd position in overall turnover from the 97th spot in the previous fiscal year, IFFCO’s consistent performance highlights the strength and prominence of the Indian cooperative movement on the global stage.

Championing the vision of “Sahkar se Samridhi” envisioned by the Hon’ble Prime Minister, IFFCO’s continued success exemplifies its unwavering commitment to cooperative principles. This achievement also reflects the robust cooperative landscape in India, further catalyzed by initiatives spearheaded by the Union Cooperation Ministry, led by Shri Amit Shah, Hon’ble Minister of Home Affairs and Cooperation, Government of India.

Drawing inspiration from the Hon’ble PM’s vision, IFFCO has made significant strides in agricultural innovation, culminating in the development of the world’s first Nano Urea and Nano DAP for farmers. Additionally, IFFCO’s procurement of 2,500 Agri-Drones underscores its commitment to revolutionize agricultural practices and enhance farmer livelihoods.

Dr. Uday Shankar Awasthi, Managing Director of IFFCO, expressed pride in retaining the top position, emphasizing IFFCO’s dedication to farmers’ welfare and the cooperative movement’s advancement. He lauded the introduction of Nanotechnology-based solutions, such as IFFCO Nano Urea Liquid and Nano DAP, aimed at bolstering agricultural productivity and sustainability.

IFFCO’s inclusion in the World Cooperative Monitor report underscores India’s commitment to self-reliance in agriculture and the “Make in India” initiative. With support from the Union Ministry of Cooperation and the visionary leadership of Shri Amit Shah, IFFCO continues to drive innovation and transformative change in Indian agriculture.

In line with the vision of Agriculture 2.0, IFFCO has pioneered advancements in agrotechnology, rural e-commerce, digital farming solutions, and IoT integration. These initiatives aim to position IFFCO as a frontrunner in modernizing Indian agriculture and fostering a culture of innovation among rural entrepreneurs.

The World Cooperative Monitor report, launched by the International Cooperative Alliance and EURICSE, serves as a vital tool for evaluating the economic and social impact of cooperative enterprises globally. It underscores the resilience and relevance of cooperatives in addressing contemporary challenges, including COVID-19 and climate change.

In conclusion, IFFCO’s continued success reaffirms its pivotal role in driving agricultural transformation and fostering inclusive economic growth. As a beacon of cooperative excellence, IFFCO remains committed to empowering farmers and advancing the cooperative movement on the world stage.

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