IFFCO retains top position in World Cooperative Monitor (WCM) Report 2023
The WCM ranking is based on the ratio of turnover over gross domestic product (GDP) per capita published by International Cooperative Alliance.
The Indian Farmers Fertiliser Cooperative Limited (IFFCO) has been ranked again as Number 1 Cooperative among top 300 cooperatives in the world, sustaining its position from last year. The ranking is based on the ratio of turnover over Gross Domestic Product (GDP) per capita. It signifies that IFFCO is contributing significantly to the GDP and economic growth of the nation. 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 International Cooperative Alliance (ICA). IFFCO has also stepped up to 72 nd Position in overall Turnover ranking from 97 th position in last financial year. IFFCO along with its 35,500-member cooperative societies, 25,000 PACS and 52,400 PMKSK centres progressing towards ‘Atmanirbhar Bharat’ and ‘Atmanirbhar Krishi’ is a testimony of prosperity through cooperatives.
IFFCO has maintained its No. 1 rank from past several years which is a testament to IFFCO and its management’s unwavering faith in the cooperative principles. This can also be seen as an indicator of strong cooperative movement in the country which has gained impetus since the formation of dedicated Union Cooperation Ministry under the able leadership of Amit Shah, Hon’ble Minister of Home Affairs and Cooperation, Government of India. Initiatives taken by the ministry has created a conducive environment that has enabled flourishment of Cooperative movement in India. Taking inspiration from Hon’ble PM’s vision of “Sahkar Se Samriddhi” and with years of hard work, research and experimentation on various crops, IFFCO developed World’s First Nano Urea and Nano DAP for farmers. IFFCO is procuring 2,500 Agri-Drones along with Accessories and Spares for spraying IFFCO Nano Fertilizers as well as Bio-fertilizers, Bio-stimulants like Sagarika and Argi- chemicals etc. IFFCO will train more than 5000 rural entrepreneurs and will distribute 2500.
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 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 Annual Budget of Government of India. I congratulate each and every one at IFFCO and entire cooperative fraternity of the country for this momentous achievement.”
The WCM ranking is based on the