The Cabinet Committee on Economic Affairs (CCEA), headed by Prime Minister Narendra Modi, on Wednesday gave its approval to set up three new national-level multi-state cooperative societies to promote organic products, seeds and exports.
These three — national-level cooperative organic society, cooperative seed society and cooperative export society — will be registered under the Multi-State Cooperative Societies (MSCS) Act, 2002, said a PIB release.
1. The setting up of a National level multi-state cooperative export society Will boost the Indian export potential in global markets, generate employment opportunities and ensure an inclusive growth model of cooperatives.
2. The National level multi-state cooperative organic society Will provide institutional support for organic farming and unlock demand and consumption of organic products in domestic and global markets.
3. The National level multi-state cooperative seed society Will reduce dependence on imported seeds and boost the rural economy.
The PM has observed that all efforts should be made to leverage the strengths of cooperatives and transform them into successful and vibrant business enterprises to realize the vision of “Sahakar-se-Samriddhi”. It is thus imperative for the cooperatives to think globally and act locally to leverage their comparative advantage, the release said.
Briefing media about the cabinet decisions, Union Minister Bhupender Yadav said cooperatives are an important part of rural India and the cabinet has taken an important decision to set up three new multi-cooperative societies after 35 years.
The Multi-State Cooperative Societies law was enacted in 1984. It was in 1987, TRIFED (Tribal Co-Operative Marketing Development Federation of India Ltd) was established under this law as a national-level cooperative body.
After 35 years, three new multi-state cooperative societies will be established. They will play a key role in realising the goal of
“Sahakar Se Samriddhi” (prosperity through cooperatives) by boosting rural growth and farmers’ income, he added.
The minister said cooperatives societies, including primary societies, district, state and national level federations, multi-state cooperative societies and Farmers Producer Organisations (FPOs) can become members of these new cooperatives.
