Amul Chairman RS Sodhi welcomed the government’s decision to create a new ‘Ministry of Cooperation’ and said that lakhs of traders and farmers will benefit from this move.
In an interview with News18.com Sodhi said, “The government of India has recognized cooperatives as a viable business model in the Indian economy. Cooperatives work for small people like small farmers and traders. Amul started small and now is the biggest FMCG. Cooperatives not only give their members profit but also are good for society."
“Lakhs of traders and farmers will benefit from the Ministry of Cooperation that will help in easing income inequality and disparities by putting in the capital in cooperative businesses. “Sahkar se samriddhi" (through co-operation to prosperity), this slogan shows their commitment towards small farmers and traders," he added.
In a historic move, a new ‘Ministry of Cooperation’ was created by the Narendra Modi Government on Tuesday. Government sources told CNN-News18 that the ministry would provide a separate administrative, legal and policy framework to strengthen the cooperative movement in the country. It will also help deepen cooperatives as a true people-based movement reaching upto the grassroots.
The creation of a new ministry came a day ahead of the much-awaited cabinet reshuffle.
“In our country, a co-operative based economic development model is very relevant where each member works with a spirit of responsibility," a source said.
The ministry will also work to streamline processes to boost ‘ease of doing business’ for cooperatives and enable development of Multi-State Cooperatives (MSCS).
The central government has signaled its deep commitment to community-based developmental partnership. Creation of a separate Ministry for Cooperation also fulfils the budget announcement made by the Finance Minister, the sources added.