The cooperative sector has immense potential: Amit Shah

The Cooperation Minister said the sector had been neglected since independence, but Prime Minister Narendra Modi was accelerating its expansion with historic reforms and modernization.

“Under Modi’s leadership, the Cooperation Ministry has taken several expansion measures and last year the ministry worked continuously on 25 to 30 initiatives,” he said.

Shah said the government needs to expand cooperatives but there is no database and the ministry is also creating a national level database of different categories of cooperatives.

“Provisions for training will also be made available,” he said.

Shah said an export house was also being registered with work to be completed by December.

“It will provide a platform for cooperatives to export across the country,” he said. “Sweeping changes are also being made to the Multi-State Cooperative Law and the government led by Narendra Modi has also decided to computerize all PACS.”

Shah said population size is a great advantage in an economy because population is also the market.

“Until 2014, the population of India was 130 crore, but the market was only 60 crore because 70 crore people had no ability to buy. Sixty million people worried about their next meal and other basic needs and generations went through the same ordeal. Prime Minister Narendra Modi has opened bank accounts, provided gas cylinders, toilets, electricity, pure drinking water and food grains for free to the poor and hence awakened the aspirations of these 60 millions of people by meeting their basic needs and cooperatives have the potential to meet all these aspirations. Today, having met their basic needs, these people have the ambition to move forward in life by earning more money and through cooperatives they can achieve these ambitions,” he said.

Virginia S. Braud