Cooperatives set up in ’23 reap rural gains

Three national cooperatives in India are driving the country’s rural economy through exports, seed production, and farm produce procurement. The cooperatives, established last year, are expected to handle over $1 billion worth of commerce and trade in the next five years. The government has modified laws to allow cooperatives to expand their operations, including running petrol pumps. The National Cooperative Export Ltd (NCEL) is particularly focused on boosting overseas shipments of organic produce and aims to become a “complete export ecosystem” covering various aspects of the supply chain.