IFFCO was registered as a multi-unit Co-operative Society on 3rd November 1967. Over the past 53 years, IFFCO has emerged as one of the most successful Co-operative Societies in India – all the while staying true to its objective of empowering the rural communities of India. We strongly believe that Cooperative model is the true harbinger of progress & prosperity.
International Cooperative Alliance (ICA) defines cooperative as an autonomous association of individuals united voluntarily to meet their common economic, social and cultural needs & aspirations through a jointly owned and democratically controlled enterprise
The cooperative model, in the simplest of explanation makes the worker, the owner of the enterprise. It challenges the status-quo of the capitalist mindset without conflicting its core principles; creating an ecosystem that works on shared profits, shared controls and shared benefits. The cooperative model not only delivers profits but also delivers progress to the entire society.
While the modern concept of Cooperation took a foothold in India post-independence. Its roots can be traced back to ancient Indian Scriptures. The Sanskrit verse mentioned in the ‘Maha Upnishad’ literally translates to ‘Entire world is a single large family’. Cooperative model is deep rooted in the Indian way of life and has been passed on through the ages.
Independence era saw the emergence of a new progress-hungry India, eager to ride the wave of industrial revolution. This new-found ambition further strengthened the cooperative movement, making them an integral part of the 5-year plans
By 1960s, the cooperative movement had established a strong foothold in the country with many of the industrial giants across agriculture, dairy, consumer supplies and even urban banking running on the model.
Independent India was infused with fresh energy to achieve economic growth and development. The cooperatives achieved great significance and became an integral part of our 5-year economic plans. The success of the First Five Year Plan (1951-1956) was credited to the implementations by cooperative organisations. Thus, becoming a distinct segment in the Indian economy.
Pandit Jawaharlal Nehru First Prime Minister of India
Cooperative has been very important & central element of indian life system. On the basis of this we should try to reconstruct the economic policy.