The Indian Farmers Fertilizer Cooperative Limited (IFFCO) has been ranked again as the 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 International Cooperative Alliance (ICA).
IFFCO has also stepped up to the 72nd position in the overall turnover ranking from the 97th position in the last financial year. IFFCO has 35,500-member cooperative societies, 25,000 PACS and 52,400 PMKSK centers. IFFCO has maintained its no. 1 rank from past several years, which is a testament to its and its management’s unwavering faith in the cooperative principles. This
IFFCO is procuring 2,500 agri-drones along with accessories and spares for spraying IFFCO nano fertilizers as well as bio-fertilizers, bio-stimulants such as Sagarika and agri-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.
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 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 Annual Budget of Government of India. I congratulate each and every one at IFFCO and entire cooperative fraternity of the country for this momentous achievement.”
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.
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Naresh Khanna – 10 February 2025
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