India’s cooperative movement is rooted in the philosophy of Vasudhaiva Kutumbakam. Cooperatives provide shared ownership and mutual support across sectors like agriculture, dairy, and fisheries.
Established on July 6, 2021, the Ministry of Cooperation aims to strengthen institutions and unlock the cooperative sector's potential.
Celebrating its 5th Foundation Day on July 6, 2026, the Ministry showcased significant advancements, transforming 50,000 Primary Agricultural Credit Societies (PACS) into e-PACS.
Key initiatives include launching a Milk Supply Review Dashboard and two crucial programs: Sahakar CBS for urban cooperative banks and Sahakar Sahyogi for AI-driven customer support.
India's cooperative ecosystem spans diverse sectors, linking farmers and producers to local markets and financial services.
The government has launched over 152 initiatives to modernize cooperatives, enhance transparency, and include digital tools.
Related current affairs
- Upper House passes Bills to change name of Kerala, strengthen NCDC
- National Cooperative Development Corporation ropes in bid to bolster cooperatives; focus on Himachal villages
- National Cooperative Development Corporation Bill gets House approval
- National Cooperative Development Corporation (NCDC) seeks to boost cooperative development, livelihood support and capacity building
- Central Assistance for Computerisation of PACS and Strengthening Cooperative Institutions in Karnataka
- “Sahakar Se Samriddhi” initiative to promote inclusive, technology-enabled cooperative development in Himachal Pradesh