Big achievement for India, IFFCO becomes world’s top cooperative
Indian Farmers Fertilizer Cooperative Limited (IFFCO) has secured 65th position in the overall turnover ranking from 125th position in the last financial year. With this, IFFCO has now become the world’s top cooperative. IFFCO ranks best among the world’s top 300 co-operatives in terms of turnover per capita GDP. It is a matter of pride not only for the cooperative sector, but also for the whole of India.
In this context, IFFCO stated that, ‘IFFCO is contributing significantly to the nation’s GDP and economic growth. According to the ninth annual World Cooperative Monitor (WCM) report, it reflects the enterprise’s turnover and the country’s assets. ‘
IFFCO MD and CEO US Awasthi tweeted, ‘It is a matter of great pleasure that IFFCO has become the world’s No.1 cooperative. IFFCO ranks best among the world’s top 300 co-operatives in terms of turnover per capita GDP. Congratulations to you all.’
IFFCO is wholly owned by the Indian Cooperative Union
It may be noted that IFFCO is wholly owned by the Indian Cooperative Union. This committee, established in 1967 with only 57 cooperative societies, today comprises more than 36,000 Indian cooperatives. Apart from the major business of making and selling fertilizers, the business of these committees extends from general insurance to diverse areas such as rural telecommunications.
The institution provides services to 5.5 crore farmers
Through its vast marketing network of 36,000 cooperatives, IFFCO serves 5.5 crore farmers in India. The marketing department of IFFCO faces a difficult challenge of delivering fertilizer to farmers living in every corner of India, some of whom live in some of the most inaccessible places in the world.
Expansion of international partnership
IFFCO has expanded its influence worldwide. The organization has expanded its international partnership through important memorandums of understanding with several international fertilizer industries and raw material suppliers.
