At the PHD Chamber of Commerce and Industry (PHDCCI) National Summit, Dr. Ashish Kumar Bhutani, Secretary of the Ministry of Cooperation, emphasized the key role cooperatives will play in realizing India’s vision of ‘Viksit Bharat’ (Developed India). Held in New Delhi, the summit, themed “Strengthening Bonds | Building Viksit Bharat Together,” highlighted the transformative potential of cooperatives in shaping India’s economic future.
Dr. Bhutani pointed out that India is home to 25% of the world’s cooperatives, showcasing a strong foundation for future growth. He hailed the fact that India was hosting the General Assembly and Global Cooperative Conference for the first time, calling it a pivotal moment for the sector. Key organizations like NCOL, BBSSL, and NCEL are spearheading reforms that aim to modernize cooperatives across the country.
Highlighting the government’s commitment to fostering a cooperative movement, Dr. Bhutani outlined the Ministry of Cooperation’s achievements in the past three years. He noted how Primary Agricultural Credit Societies (PACS) have become crucial to the government’s plans. By drafting a new model by-law, PACS are now empowered to engage in over 25 different activities, strengthening their role in the cooperative system.
Dr. Bhutani stressed the importance of addressing operational challenges, particularly the need for greater transparency and improved rural infrastructure. He also emphasized the government’s ongoing efforts to create a supportive ecosystem for cooperatives by integrating PACS into rural frameworks.
Dr. Bhutani announced key initiatives aimed at boosting cooperative development. One such initiative is the establishment of 200,000 new multi-purpose cooperative societies over the next five years to reach underserved areas across India. Another major program, dubbed White Revolution 2.0, aims to increase milk procurement by 50% for dairy cooperatives in the next five years.
This initiative will help provide market access to dairy farmers in previously uncovered areas, empower women, and address malnutrition, while also expanding the role of dairy cooperatives in the organized sector. Finally, the Ministry plans to enhance cooperation among existing cooperatives to foster greater collaboration within the sector.
Industry leaders also contributed their perspectives during the summit. Vineet Nahata, Chair of the PHDCCI Task Force on Cooperatives, praised the sector’s resilience during the COVID-19 pandemic.
He noted that cooperatives contributed to a 24% growth in India’s GDP during that challenging time, pointing to their potential to navigate difficult circumstances and emerge stronger. He emphasized the importance of better integrating industry with the cooperative sector to promote continued growth.
Vikrant Dogra, Chairman of The Unati Agri Allied and Marketing Cooperative, discussed cooperative successes in Jammu and Kashmir. He shared the story of the Unnati Talwara Cooperative, which employs 300 women and has generated profits of ?100 crore, illustrating how cooperatives can drive economic and social progress in remote areas. He stressed that strengthening the cooperative movement is essential to achieving a Viksit Bharat.
Smt. Savitri Singh, Deputy CEO of the National Cooperative Union of India (NCUI), lauded the PHDCCI for organizing the summit. She reflected on the cooperative sector’s historical role in the green and white revolutions and expressed optimism about the future. Singh noted that the growing membership of cooperatives would play a vital role in achieving India’s $5 trillion economy target.
Dr. Prem Garg, President of the Indian Rice Exporters Federation (IREF), called for government support for initiatives like the pesticide-free rice campaign launched in Haryana. He reiterated IREF’s commitment to educating farmers on sustainable practices and collaborating to drive growth in the cooperative sector.
The summit concluded with a vote of thanks from Dr. Jatinder Singh, Deputy Secretary General of PHDCCI. He announced that the next PHDCCI summit will be held on November 8 in Guwahati, focusing on further strengthening the cooperative movement across India.
