The Indian fertiliser manufacturer, IFFCO, has been ranked as the biggest cooperative in the world by the ’World Cooperative Monitor' report 2018. IFFCO MD, Dr US Awasthi shared this news with media and said that he was delighted that the world cooperative monitor has named IFFCO as the biggest cooperative in the world.
According to the IFFCO MD, IFFCO’s growth and subsequent global recognition have been made possible due to the inclusive business model of IFFCO, the transparent and democratic decision making processes, the support of the board of directors, and the faith of millions of Indian farmers in the organisation and in its products and services.
The IFFCO MD has also been a major force behind the growth shown by IFFCO. A look through US Awasthi LinkedIn profile will show that his joining IFFCO India marked a new chapter in the cooperative’s history. Considered as the rock star of the Indian fertiliser industry, the IFFCO MD blog is widely read for the insights it provides.
IFFCO India managed to retain this position from 2016. IFFCO boasts of nearly 36,000 member cooperatives and a turnover of nearly $3 billion (FY 2017-18), and is also ranked at the pole position amongst the top 20cooperatives in the agriculture and food industries sector.
IFFCO – Short History
Founding
The food crisis in India in the early 60s mobilised India’s farmers to look for long-term solutions. While the cooperative sector was a major outlet for distribution of chemical fertilisers in the country, the entry of private players made cooperatives secondary players in the chemical fertiliser field. To overcome this situation and to bridge the growing demand for fertilisers in the country, a new cooperative was conceived. Indian Farmers Fertiliser Cooperative Limited (IFFCO) was registered on November 3, 1967. The primary objective of IFFCO India was the production and distribution of fertilisers.
1970s
The Kalol and Kandla plants were commissioned and built. Work for two more plants was initiated.
1980s
Two more Urea plants were commissioned at Phulpur and Aonla in Uttar Pradesh.
IFFCO Today
IFFCO India is the world’s largest cooperative society wholly owned by Indian societies. From just 57 cooperatives as members, it now has more than 36,000 members. Starting from fertilisers, IFFCO has diversified its business interests with IFFCO’s MD US Awasthi leading the charge. IFFCO now has business interests in areas such as general insurance and rural telecom as well.