World Cooperative Monitor reported IFFCO as number 1 on the ratio of turnover over gross domestic product (GDP) per capita published by ICA
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, according to an official release.
“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 said.
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.
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.