1. Industry News

IFFCO - Number One Cooperative in The World

Abin Joseph
Abin Joseph
Udai Shanker Awasthi, CEO and MD of IFFCO (Indian Farmers Fertiliser Cooperative Ltd)

Fertiliser major IFFCO has been ranked number one cooperative among the top 300 cooperatives in the world. The ranking is based on the ratio of turnover over the GDP per capita, according to Indian Farmers Fertiliser Cooperative Limited.

This year has been a very Fruitful year for IFFCO apart from ranking number one in the World cooperative monitors ranking list. IFFCo was also honoured with 7 awards in the Fertiliser Association of India’s Annual seminar 2021. On achieving the number one spot in the rankings for cooperatives U.S Awasthi, Managing director of IFFCO said that "At IFFCO, we are always committed towards the mission of doubling farmers' income, ensuring wholesome growth of farmers across the nation strengthening the cooperative movement".

He also stated that "We believe in innovation as it is the key to success that is why we are introducing nanotechnology-based solutions for agriculture, especially alternative fertilisers, beginning with IFFCO Nano Urea Liquid," he noted.

Awasthi also said that the cooperative's IFFCO Nano Urea liquid has been warmly appreciated by Indian farmers and that IFFCO Nano DAP and other nanotechnology-based products will be launched shortly. During an international webinar, the International Cooperative Alliance (ICA) and the European Research Institute on Cooperative and Social Enterprises (Euricse) released the 2021 edition of the World Cooperative Monitor.

The research examines the economic and social effects of the world's largest cooperatives, including a top 300 rating, sector rankings, and a review of answers to contemporary global concerns such as COVID and climate change. The World Cooperative Monitor (WCM) is a project aimed at gathering reliable economic, organisational, and social statistics on cooperatives across the world. It is the first and only study of its type to collect annual quantitative statistics on the cooperative movement throughout the world.

It seeks to establish a multi-dimensional database reflecting on the socio-economic value and effect of cooperatives both within a global setting and in their regional and national contexts and has been published yearly since 2011 by the International Cooperative Alliance and Euricse. Global 300 initiative was the predecessor of the current World Cooperative Monitor.

Like this article?

Hey! I am Abin Joseph. Did you liked this article and have suggestions to improve this article? Mail me your suggestions and feedback.

Share your comments

Subscribe to our Newsletter. You choose the topics of your interest and we'll send you handpicked news and latest updates based on your choice.

Subscribe Newsletters