Besides IFFCO, World Cooperative Monitor report 2020 published by ICA has named GCMMF popularly known by the brand name Amul in the second rank among top 300 cooperatives in the world. The ranking is based on the ratio of turnover over gross domestic product (GDP) per capita.
The accompanying photograph shows GCMMF standing at 2nd position, just above IFFCO. Groupe Crédit Agricole, Groupe BPCE and Zenkyoren which stand at third, fourth and fifth positions respectively, as is clear from the accompanying pic.
Reacting to the news GCMMF MD, R S Sodhi said to Indian Cooperative” Yes this number is correct. We are playing a bigger role in our economy. Congratulations!”
Speaking further Sodhi added “GCMMF is one of the best examples of fusion of selfless and dedicated political leadership and very committed professional leadership founded on a very strong value system”.
It bears recall that the International Cooperative Alliance (ICA) and the European Research Institute on Cooperative and Social Enterprises (Euricse) have released the 2020 edition of the 9th Annual World Cooperative Monitor report on Wednesday.
This publication reports on the world’s largest cooperative and mutual organisations, providing rankings of the Top 300.
“This year’s results show the largest organisations in the cooperative movement performing well, with only slight variations on the top positions across the sectors. In the Top 300 based on the ratio of turnover over gross domestic product (GDP) per capita ranking, reintroduced this year, IFFCO is at the top and Amul at the 2nd rank.
The ratio of turnover over GDP is not intended to compute the contribution of each enterprise to the national GDP, but rather to relate the turnover of the enterprise to the wealth of the country in which it operates, as GDP per capita measures the purchasing power of an economy in an internationally comparable way, the Report says.
This new addition to the WCM report takes a look at how the largest cooperative enterprises and mutuals in the world are moving towards achieving the SDGs, examining documents reported to the UN Global Compact project and Global Reporting Initiative (GRI), reads the
Report.