- On Thursday, the Union Home and Cooperation Minister unveiled India’s new National Cooperative Policy, aimed at fostering a “cooperative business ecosystem” that reaches every village.
- This initiative is part of the country’s broader goal to achieve developed nation status by 2047.
- The new policy, which replaces the one from 2002, seeks to transform cooperatives into professional and sustainable economic entities that can significantly boost the nation’s GDP over the next 25 years.
- “This policy is forward-thinking, practical, and focused on results,” Shah stated during the launch, emphasizing its mission to “create a supportive legal, economic, and institutional framework that will empower and enhance the cooperative movement at the grassroots level.” Shah highlighted the goal of establishing at least one cooperative organization in every village across the country.
- He also mentioned the ambition to involve at least 50 crore people in cooperatives, making them active participants in equitable growth.
On Thursday, the Union Home and Cooperation Minister unveiled India’s new National Cooperative Policy, aimed at fostering a “cooperative business ecosystem” that reaches every village. This initiative is part of the country’s broader goal to achieve developed nation status by 2047.
The new policy, which replaces the one from 2002, seeks to transform cooperatives into professional and sustainable economic entities that can significantly boost the nation’s GDP over the next 25 years.
“This policy is forward-thinking, practical, and focused on results,” Shah stated during the launch, emphasizing its mission to “create a supportive legal, economic, and institutional framework that will empower and enhance the cooperative movement at the grassroots level.”
Shah highlighted the goal of establishing at least one cooperative organization in every village across the country. He also mentioned the ambition to involve at least 50 crore people in cooperatives, making them active participants in equitable growth.
With over eight lakh cooperative societies, India currently hosts more than a quarter of the world’s cooperatives, with about one-third of its rural population directly engaged as members to meet their diverse socio-economic needs.
“There was a time when people doubted the future of cooperation. Today, I firmly believe that the future belongs to cooperation,” Shah remarked, underscoring the sector’s vital role in integrating millions into economic activities.
He pointed out that the new National Cooperation Policy aims to triple the cooperative sector’s contribution to GDP by 2034, bring 50 crore active members into the fold, and connect youth with job opportunities.
Shah stressed that the cooperative sector uniquely possesses the ability to develop the nation’s economy inclusively, drawing contributions from all 1.4 billion citizens. He noted that this sector can effectively pool small amounts of capital from many individuals to create large-scale enterprises.
The new policy, crafted by a 48-member national committee led by former Union minister Suresh Prabhu, outlines 16 objectives organized under six major strategic mission pillars aimed at bolstering the cooperative movement at the grassroots level from 2025 to 2045.
One of the standout goals of this policy is to develop five model cooperative villages in each ‘tehsil’. “Other villages in the district will be encouraged to first align with the model village and then strive to become among the best in the state,” the policy paper states.
Focusing on the “development of a cooperative business ecosystem,” the policy sets the stage for establishing at least one model cooperative village in every district, centered around a multipurpose primary agricultural cooperative society (PACS) that will act as the driving force for growth.
Additionally, the new policy has established a framework for monitoring its execution. This includes the formation of a ‘National Steering Committee on Cooperation Policy’, chaired by the Union minister of cooperation, which will provide overall guidance, facilitate inter-ministerial coordination, and conduct periodic reviews of the policy.
Moreover, a national-level ‘Policy Implementation and Monitoring Committee’, led by the Union cooperation secretary, will be set up to ensure central-state coordination, address implementation challenges, and carry out regular monitoring and evaluation.