The Central Government has approved setting up of three national level multi-state cooperative societies; one each for Exports, Organic produce and Seed. These societies have been registered under MSCS Act, 2002 on 26th July 2023.
The cooperative societies of all levels, who are interested in activities specified for each of the above societies, are eligible to become members. The details are as under:
The NCEL is promoted by Indian Farmers Fertilizer Cooperative Limited (IFFCO), Krishak Bharati Cooperative Limited (KRIBHCO), National Agricultural Cooperative Marketing Federation of India Limited (NAFED), Gujarat Cooperative Milk Marketing Federation Limited (GCMMF) and National Cooperative Development Corporation (NCDC).
The NCEL will have an initial paid up capital of Rs. 500 Cr with contribution of Rs. 100Cr each by the five promoters and authorized share capital of Rs. 2000 Cr.
The NCEL will help in increasing exports of surplus goods & services produced in the cooperative sector thereby promoting “Make in India” and leading to Atmanirbhar Bharat. Higher exports through the NCEL will increase linkages of goods & services amongst the cooperatives at various levels thus leading to more employment in the cooperative sector.
The NCOL is promoted by NDDB, GCMMF, NAFED, National Cooperative Consumers’ Federation of India Limited (NCCF) and NCDC. NDDB is the Chief Promoter of the NCOL.
The NCOL will have an initial paid up capital of Rs. 100 Cr with contribution of Rs. 20 Cr each by the five promoters and authorized share capital of Rs. 500 Cr.
The NCOL will provide institutional support for aggregation, certification, testing, procurement, storage, processing, branding, labelling, packaging, logistic facilities, marketing of organic products and facilitate in arranging financial assistance to the organic farmers through its member Cooperatives including PACS/FPOs and will take up all promotion and development related activities of organic products with the help of various schemes and agencies of the Government.
The BBSSL is promoted by IFFCO, KRIBHCO, NAFED, National Dairy Development Board (NDDB) and NCDC. KRIBHCO is the Chief Promoter of the BBSSL.
The BBSSL will have an initial paid up capital of Rs. 250 Cr with contribution of Rs. 50 Cr each by the five promoters and authorized share capital of Rs. 500 Cr.
The BBSSL will help in increasing the production of quality seeds in India through cooperatives thereby reducing the dependence on imported seeds, enhancing agriculture production, providing boost to rural economy, promoting “Make in India” and leading to Atmanirbhar Bharat.
In order to achieve the vision of “Sahakar se Samriddhi”, the Ministry of Cooperation has taken the following 48 new initiatives including the above.
The Three Multi-State Societies at the National Level are:
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