IFFCO Ranked Number 1 Cooperative Among Top 300 Cooperatives Worldwide

The Indian Farmers Fertiliser Cooperative Limited (IFFCO) has been ranked again as Number 1 Cooperative among the 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 12th Annual World Cooperative Monitor (WCM) report published by the International Cooperative Alliance (ICA).

IFFCO has also stepped up to 72nd Position in the overall Turnover ranking from 97th position in the 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 for the 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 the strong cooperative movement in the country which has gained impetus since the formation of the dedicated Union Cooperation Ministry under the able leadership of Shri Amit Shah, Hon’ble Minister of Home Affairs and Cooperation, Government of India. Initiatives taken by the ministry have created a conducive environment that has enabled the flourishment of the Cooperative movement in India.

Taking inspiration from PM’s vision of “Sahkar Se Samriddhi” and with years of hard work, research and experimentation on various crops, IFFCO developed the 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 Agri Drones. IFFCO is also engaged in identifying suitable Village Level Entrepreneurs, who will be trained to operate these Drones as “Certified Pilots”. These drones will be deployed as per the location and schedule of training of these rural entrepreneurs.

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 the 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 the Annual Budget of Government of India. I congratulate each and everyone at IFFCO and the entire cooperative fraternity of the country for this momentous achievement.”

IFFCO being featured in the report is a testament to Indian Cooperatives’ zeal towards realizing the mission of ‘Atmanirbhar Bharat’ and ‘Atmanirbhar Krishi’ while promoting the ‘Make in India’ project. Driven by the Prime Minister Narendra Modi’s vision of ‘Sahkar se Samridhi’, IFFCO continues to drive towards innovation with the successful launch of nanotechnology-based IFFCO Nano Urea Liquid and Nano DAP Liquid which has the potential to revolutionize the way agriculture is being practised. Support from the Union Ministry of Cooperation led by Home Minister Shri Amit Shah has given an impetus to these efforts.

In recent years, IFFCO has been striving to change the agriculture scenario in the country. Working on the vision of Agriculture 2.0, IFFCO has invested in and has introduced pathbreaking agrotechnology including nanotechnology-based fertilizers, promotion of Agri-drones, rural e-commerce, digital enablement of farmers and farms, Internet of Things (IoT), etc. IFFCO aims to be the flag-bearer of modern Indian Agriculture, by being the brand resonating with innovators and progressive rural entrepreneurs.

The International Cooperative Alliance (ICA) and the European Research Institute on Cooperative and Social Enterprises (EURICSE) launched the 2021 edition of the World Cooperative Monitor during an international webinar on 25th January 2024. The report is the 10th annual edition and explores the economic and social impact of the largest cooperatives and mutual worldwide, providing a ranking of the Top 300, sector rankings, and an analysis of responses to the current global challenges primarily COVID and Climate Change. 

The in-depth research and collaboration to produce this report continue to provide the cooperative movement with a significant tool to evaluate its positioning and highlight the importance of cooperative enterprises to the public and policy-makers around the world.