Prime Minister of Bhutan and my younger brother, Deputy Prime Minister of Fiji, Bharat's Minister of Cooperation Amit Shah, President of the International Cooperative Alliance, representatives of the United Nations, all associates connected to the Cooperative World gathered here from across the globe, ladies and gentlemen,
As I welcome you all today, I do so not alone, and indeed, I cannot do it alone. On behalf of millions of farmers in Bharat, millions of livestock rearers, Bharat's fishermen, over 8 lakhs cooperative institutions, 10 crore women associated with self-help groups, and the youth of Bharat who are connecting cooperatives with technology, I welcome you to Bharat.
For the first time, the Global Conference of the International Cooperative Alliance is being held in Bharat. At present, we are giving a new dimension to the cooperative movement in Bharat. I am confident that through this conference, we will gain essential insights for Bharat's future cooperative journey, and at the same time, Bharat’s experiences will provide the global cooperative movement with new tools and new spirit for the 21st century. I also extend my heartfelt congratulations to the United Nations for declaring 2025 as the International Year of Cooperatives.
Friends,
Cooperatives are a model for the world, but for Bharat, they are the foundation of our culture and a way of life. Our Vedas say, सं गच्छध्वं सं वदध्वं — that is, let us walk together, let us speak in harmony. Our Upanishads state, सर्वे संतु सुखिन: — may everyone be happy. Even in our prayers, coexistence has been a central theme. ‘Sangh’ (Unity) and ‘Sah’ (Cooperation) are the fundamental elements of Indian life. This is also the basis of our family system. And it is precisely this essence that lies at the core of cooperatives. Indian civilization has flourished with this spirit of cooperation.
Friends,
Our freedom movement was also inspired by cooperatives. They not only contributed to economic empowerment but also provided a collective platform for freedom fighters. Mahatma Gandhi's concept of Gram Swaraj (village self-rule) infused new energy into community participation. He initiated a new movement in areas like khadi and village industries through cooperatives. Today, khadi and village industries, supported by our cooperatives, have surpassed even some of the biggest brands. During the same period, Sardar Patel united farmers and gave a new direction to the freedom movement through milk cooperatives. Born out of the freedom revolution, Amul is today one of the top global food brands. We can say that cooperatives have journeyed from ideas to movements, from movements to revolutions, and from revolutions to empowerment in Bharat.
Friends,
Today, we are combining the power of the government and cooperatives to make Bharat a developed nation. We are following the mantra of ‘Sahkar Se Samriddhi’ (prosperity through cooperation). Bharat today has over 8 lakhs cooperative societies, meaning that one out of every four cooperatives in the world is in Bharat. Not only in numbers but also in scope, these cooperatives are vast and diverse. Around 98% of rural Bharat is covered by cooperatives. Approximately 300 million people—one out of every five in the world and one out of every five Indians—are associated with the cooperative sector. Cooperatives play a significant role in sectors such as sugar, fertilizers, fisheries, and milk production.
Over the decades, Bharat has also seen significant growth in urban cooperative banking and housing cooperatives. Today, there are nearly 200,000 housing cooperative societies in Bharat. In recent years, we have strengthened the cooperative banking sector through reforms. Today, cooperative banks across the country hold deposits worth 12 lakh crore rupees (12 trillion rupees). To further strengthen and build trust in these banks, our government has brought about several reforms. Earlier, these banks were outside the purview of the Reserve Bank of India (RBI), but now they have been brought under the RBI's ambit. We have also increased the insurance coverage on deposits in these banks to 5 lakh rupees per depositor. Digital banking has been expanded in cooperative banks. These efforts have made Bharat’s cooperative banks more competitive and transparent than ever before.
Friends,
Bharat envisions a significant role for cooperatives in its future growth. Therefore, in recent years, we have worked to transform the entire cooperative ecosystem. Bharat has undertaken numerous reforms in this sector. Our goal is to make cooperative societies multipurpose. To achieve this, the Government of Bharat has established a separate Ministry of Cooperation. New model bylaws have been introduced to make these societies multipurpose. We have integrated cooperative societies with an IT-enabled ecosystem and connected them with district and state-level cooperative banking institutions. Today, these societies are running local solution centres for farmers in Bharat. These cooperative societies are operating petrol and diesel retail outlets, managing water systems in many villages, and installing solar panels. Under the Waste to Energy initiative, these cooperative societies are also contributing to the GOBARdhan scheme. Moreover, cooperative societies are now providing digital services in villages as Common Service Centres. Our effort is to strengthen these cooperative societies so that their members can increase their income.
Friends,
We are now forming multipurpose cooperative societies in 200,000 villages that currently lack such organizations. We are expanding cooperatives in both the manufacturing and service sectors. Bharat is working on the world's largest grain storage scheme in the cooperative sector. These cooperatives are executing the plan to build warehouses across the country where farmers can store their crops. This initiative will particularly benefit small farmers.
Friends,
We are organising our small farmers into Farmer Producer Organisations (FPOs). The government is providing necessary financial support to these FPOs of small farmers, and about 9,000 of these FPOs have already started operations. Our aim is to establish a strong supply and value chain for our farm cooperatives, connecting farms to kitchens and markets. To achieve this, we are leveraging modern technology. Through platforms like the Open Network for Digital Commerce (ONDC), we are offering cooperatives a new medium to sell their products. This platform enables cooperatives to deliver products directly to consumers at minimal costs. The digital Government e-Marketplace (GeM) platform created by the government is also proving highly beneficial for cooperative societies.
Friends,
In this century, women's participation will be a major factor in global growth. Societies that provide greater opportunities for women will grow faster. Bharat is currently witnessing an era of Women-Led Development, and we are focusing heavily on this. In the cooperative sector, women play a significant role, constituting more than 60% of the sector. Numerous women-led cooperatives have become a source of strength in this sector.
Friends,
Our effort is to increase women's participation in cooperative management. To this end, we have amended the Multi-State Cooperative Societies Act. It is now mandatory to have women directors on the boards of Multi-State Cooperative Societies. Furthermore, to make societies more inclusive, reservations have been introduced for marginalized sections.
Friends,
You may have also heard about the large movement of self-help groups (SHGs) in Bharat. This is a significant initiative towards Women Empowerment through Women Participation. Today, 10 crore or 100 million women in Bharat are members of self-help groups. Over the past decade, these SHGs have received loans worth 9 lakh crore rupees (9 trillion rupees) at low interest rates from the government. These self-help groups have generated substantial wealth in villages. This can create a model for women empowerment that many countries can emulate.
Friends,
The 21st century is the time to collectively decide the direction of the global cooperative movement. We must think about a collaborative financial model that makes cooperative financing simpler and more transparent. Pooling financial resources is crucial to support smaller and economically weaker cooperatives. Shared financial platforms could fund large projects and provide loans to cooperatives. Our cooperatives can also contribute to improving supply chains through participation in procurement, production, and distribution.
Friends,
There is another topic that requires deliberation: Can we establish large global financial institutions to finance cooperatives worldwide? While the International Cooperative Alliance (ICA) is playing its role effectively, the future demands that we go beyond this. Current global conditions present a significant opportunity for the cooperative movement. We need to make cooperatives the flag-bearers of integrity and mutual respect globally. To achieve this, we must innovate and strategize our policies. Cooperatives should also adopt the principles of the circular economy to become climate-resilient. Additionally, we must explore ways to encourage start-ups within cooperatives. This also needs deliberation.
Friends,
Bharat believes that cooperatives can bring new energy to global cooperation. Particularly for countries in the Global South, where specific growth models are needed, cooperatives can provide critical support. Therefore, we must innovate and create new pathways for international collaboration in cooperatives. I see this conference playing a significant role in achieving that vision.
Friends,
Bharat is one of the fastest-growing economies today. Our goal is not just high GDP growth but ensuring that its benefits reach even the poorest of the poor. It is equally important for the world to view growth through a human-centric perspective. Bharat has always prioritized humanity within the country or globally. It was demonstrated during the COVID-19 crisis when we supported resource-deprived countries, many of which were from the Global South, by sharing medicines and vaccines. While economic logic suggested capitalizing on the situation, however, humanity said that was not the correct way. It guided us to choose the path of service, not profit.
Friends,
The importance of cooperatives lies not just in their structure or legal framework. These elements can build organisations and facilitate growth and expansion, but the true essence of cooperatives is their spirit. This Cooperative Spirit is the lifeblood of the movement, rooted in the culture of cooperation. Mahatma Gandhi believed that the success of cooperatives lies not in their numbers but in the moral development of their members. With morality, decisions will always align with humanity’s best interests. I am confident that we will continue to strengthen this spirit during the International Year of Cooperatives. Once again, I welcome you all and extend my best wishes. Over the next five days, this summit will discuss numerous topics, and I am confident that the outcome will empower and enrich every section of society and every nation, advancing with the cooperative spirit. With this belief, I wish you all the very best.
Thank you.
