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The Union Cabinet, chaired by the Hon’ble Prime Minister of India, Mr. Narendra Modi, has approved setting up and promoting three national-level multi-state cooperative societies under the Multi-State Cooperative Societies (MSCS) Act, 2002. These are national multi-state cooperative export society; national multi-state cooperative organic society; and national level multi-state seed cooperative.
The proposed national multu-state cooperative export society will be the largest of the three with a paid-up capital of Rs 2,000 crore. This will be promoted by the Gujarat Cooperative Milk Marketing Federation (GCMMF), the Amul brand’s promoter; National Agricultural Cooperative Marketing Federation of India Ltd (NAFED); National Cooperative Development Corporation (NCDC); Indian Farmers Fertiliser Cooperative Limited (IFFCO); and Krishak Bharati Co-operative Limited (KRIBHCO). Initially, these five promoters will invest Rs 100 crore each, said the official from the Ministry of Cooperation. The society will act as an umbrella organization for the export of surplus goods/services produced by various cooperative societies across the country.
The proposed national multi-state seed cooperative will have an authorized share capital of Rs 500 crore but will be established with an initial paid-up share capital of Rs 250 crore. It will have five promoters including three national cooperatives —IFFCO, KRIBHCO, and NAFED and two statutory bodies — National Dairy Development Board (NDDB) and the NCDC. This cooperative society Will act as an apex organization for the production, procurement, processing, branding, labelling, packaging, storage, marketing, and distribution of quality seeds; strategic research & development; and for developing a system for the preservation and promotion of indigenous natural seeds.
The proposed national-level cooperative society for organic products will have an authorized share capital of Rs 500 crore and will be established with an initial paid-up share capital of Rs 100 crore, an official said. Five cooperative bodies — GCMMF; NAFED; and National Cooperative Consumers’ Federation of India Limited (NCCF); NDDB; and NCDC will take the initiative to set up an organic cooperative society. This will act as an umbrella organization for aggregation, procurement, certification, testing, branding, and marketing of organic products with support from relevant Union Ministries.
These three new societies will help in taking forward the respective sectoral interests of cooperatives from across the country. Primary to national-level cooperatives societies can become members of these umbrella bodies. All these cooperatives will have their elected representatives on the Board of the respective apex societies as per their bye-laws. This will help unlock the export potential of Indian cooperatives in global markets.
