Why in the News?

Prime Minister Shri Narendra Modi inaugurated the Global Cooperative Conference 2024 at Bharat Mandapam, New Delhi. The event marked the launch of the United Nations’ International Year of Cooperatives 2025 and the release of a commemorative postal stamp.The initiative reflects the growing global recognition of the cooperative model for sustainable development and poverty alleviation.

About Cooperative Movement

• India’s cooperative movement has witnessed renewed enthusiasm over the last three years.
• More than 2 lakh new Primary Agricultural Credit Societies (PACS) are being established to ensure every village has a cooperative body.
• New Cooperative Policy: The government plans to introduce a new cooperative policy to expand the role of cooperatives in India.
• National-Level Cooperatives:
  • Three new cooperatives—National Cooperative Exports Limited (NCEL), National Cooperative Organics Limited (NCOL), and Bharatiya Beej Sahakari Samiti Limited (BBSSL)—will enable farmers to access domestic and global markets.
  • Iconic cooperatives like IFFCO, KRIBHCO, and Amul continue to serve as global role models.
• Cooperative University: Plans are underway to establish a Cooperative University to provide training and develop tech-enabled human resources for the sector.
• Sahkar Se Samriddhi: PM Modi’s vision of "Prosperity through Cooperation" is driving empowerment in villages, women, and farmers, helping millions achieve economic growth.