Empowering Cooperatives: India's Path to Circular Economy

Prime Minister Narendra Modi highlighted the importance of linking the cooperative movement with the circular economy to foster international collaboration. During the ICA Global Cooperative Conference 2024, he emphasized the significance of cooperatives in India's economic growth, cultural heritage, and the need for innovative cooperative policies.

Prime Minister Narendra Modi underscored the importance of integrating the cooperative movement with the circular economy to enhance global collaboration. Speaking at the ICA Global Cooperative Conference 2024, Modi stressed that cooperatives form the bedrock of India's cultural and economic landscape, playing a crucial role in the nation's growth strategy.

He noted that India has been transforming its cooperative ecosystem for the past decade, with a focus on creating multipurpose cooperative societies. The establishment of a separate cooperative ministry exemplifies the government's commitment to this cause. Cooperatives have become instrumental in the housing and banking sectors, evidenced by the existence of approximately 2 lakh housing cooperatives nationwide.

Modi also highlighted India's rapid economic growth and the necessity of adopting a human-centric perspective. He urged the development of innovative policies to position cooperatives as leaders in integrity and mutual respect worldwide, emphasizing the potential for cooperatives to drive sustainable growth and collaboration, particularly in the Global South.

(With inputs from agencies.)