Union Home Minister and Minister of Cooperation, Shri Amit Shah, addressed the inaugural event of the International Year of Cooperatives 2025 in Mumbai, Maharashtra. During the event, he also inaugurated the corporate office of the National Urban Cooperative Finance and Development Corporation (NUCFDC). The event was attended by Minister of State for Cooperation Shri Murlidhar Mohol, Maharashtra Deputy Chief Ministers Shri Eknath Shinde and Shri Ajit Pawar, Secretary of the Ministry of Cooperation Dr. Ashish Kumar Bhutani, and other dignitaries.
Shri Amit Shah highlighted the vision of Prime Minister Narendra Modi to make the cooperative sector a driver of employment and prosperity in agriculture and rural areas. He stated that the Ministry of Cooperation has planned a year-long celebration to advance the cooperative movement in India. The goal is to enhance transparency, expand cooperative institutions, and connect every individual with the cooperative framework.
The Union Minister emphasized the role of cooperatives in achieving India’s ambition to become the world’s third-largest economic power and a fully developed nation by 2047. He highlighted that by the end of 2025, the cooperative movement in India would be inclusive and widespread, achieving the vision of “Sahkar Se Samriddhi” (Prosperity through Cooperation).
Key Initiatives Announced
Shri Amit Shah announced several initiatives, including:
1. Umbrella Organization for Urban Cooperative Banks: The newly inaugurated NUCFDC will integrate digital banking, mobile banking, and online transactions, connecting cooperatives to global trade. Over the next three years, cooperative banks will offer services on par with national and private banks.
2. Strengthening Cooperative Banks: Efforts will focus on improving resource utilization, standardizing banking processes, and unifying accounting systems across cooperative banks. India currently has 1,465 urban cooperative banks, nearly half of which are in Maharashtra and Gujarat.
3. Development of PACS: Model bylaws have been introduced to diversify activities in Primary Agricultural Cooperative Societies (PACS). The government has allocated ₹2,500 crore to equip PACS with modern technology and infrastructure.
4. Cooperative Rankings: A ranking system based on financial performance, services, and transparency has been launched to enhance trust and enable better funding for cooperatives.
5. Ethanol Production and Exports: Shri Shah noted the government’s efforts to boost sugar mills’ profitability by promoting ethanol production and approving the export of 10 lakh tonnes of sugar, benefiting Maharashtra’s cooperative mills.
Focus on Youth and Technology
The Union Minister stressed the need to involve young, tech-savvy individuals in the cooperative sector to enhance self-reliance. He expressed confidence that the “double engine government” led by PM Modi and Maharashtra’s leadership would transform the state into a hub of cooperative excellence.
Upcoming Projects
Shri Shah announced the establishment of the Tribhuvan National Cooperative University, named after Shri Tribhuvan Das Patel, to train professionals for the cooperative sector. The upcoming budget will detail this initiative. He reiterated that the cooperative sector would play a pivotal role in rural development, agriculture, and youth employment, aligning with the government’s vision of “Sahkar Se Samriddhi” and “Samriddhi Se Aatmanirbharta” (Self-reliance through Prosperity).
The event marked a significant step towards strengthening India’s cooperative movement, ensuring inclusivity, and paving the way for economic self-reliance.
