According to the news, IFFCO has managed to secure a good place among the top 300 cooperatives in the world. Dr US Awasthi, IFFCO MD, stated that everyone was elated with the news that the World Cooperative Monitor saw it fit to rank IFFCO at the top, choosing from some of the world’s biggest cooperatives.
The MD also reiterated that the company is completely dedicated and committed towards the Indian Cooperative movement and is happy to note that IFFCO has been successful in carrying it to a more global level.
“This is recognition of our employees’ commitment too” – US Awasthi
Factors to the growth of IFFCO
On being asked about the factors that have contributed to the growth and global recognition of IFFCO, Dr. US Awasthi mentioned that a major factor is the inclusive business model of the company, as well as the transparent and democratic process followed for decision making and the unending support offered by the Board of Directors, employees of the company, the co-operators, and especially by the faith shown towards the products and services of IFFCO by the millions of Indian farmers.
Reaching unexplored heights
Besides the fact that IFFCO has gained renown in the global market, reaching where a few organizations from India have managed to reach, IFFCO has done so without government support.
According to Dr US Awasthi, cooperatives have to be member-driven, and have to work with the best wishes of the government. The Honourable Prime Minister Mr Narendra Modi has also always shown continuous support for the growth of the cooperative movement in India. Mr Narendra Modi had also applauded the efforts of IFFCO for their contribution to the Prime Minister’s vision of being able to double the income of Indian farmers by the year 2022.
Their message
According to Dr Awasthi, the adoption and management of IT enabled technology is something that all cooperatives need in order to grow. This is also quite a major factor behind IFFCO being named among the top 300 cooperatives according to the 7th edition of the report known as ‘World Cooperative Monitor 2018’.
With a turnover of almost $3 billion in FY 2017-18, and with 36000 members, IFFCO is one of the biggest cooperative institutions in the world.