IFFCO and Amul are top two largest cooperatives in the world
Besides IFFCO, World Cooperative Monitor report 2018 published by ICA has GCMMF popularly known by the brand name Amul also figuring in the top rank. The accompanying photograph shows GCMMF standing at 2nd position, just below IFFCO.
Nonghyup, Zen-Noh and Copersucar which stand at third, fourth and fifth positions respectively, as is clear from the accompanying pic. These are from the Agriculture and Food Industry category of the Monitor Report.
GCMMF recorded a turnover of 3.5 billion $ in 2016. India’s per capita GDP being $1930 it was obvious GCMMF made a mark globally.
Reacting to the news GCMMF MD, R S Sodhi said to Indian Cooperative” Yes this number is correct. We are playing a bigger role in our economy. Congratulations!”
Strong value system is the key
Speaking further Sodhi added “GCMMF is one of the best examples of fusion of selfless and dedicated Political leadership and very committed professional leadership founded on very strong value system”.It bears recall that the International Cooperative Alliance (ICA) and the European Research Institute on Cooperative and Social Enterprises (Euricse) have presented the seventh annual World Cooperative Monitor report on Wednesday morning (Indian Time).
This publication reports on the world’s largest cooperative and mutual organisations, providing rankings of the Top 300.
“This year’s results show the largest organisations in the cooperative movement performing well, with only slight variations to the top positions across the sectors. In the Top 300 based on the ratio of turnover over gross domestic product (GDP) per capita ranking, reintroduced this year, IFFCO is at the top and Amul is at the 2nd rank.
The ratio of turnover over GDP is not intended to compute the contribution of each enterprise to the national GDP, but rather to relate the turnover of the enterprise to the wealth of the country in which it operates, as GDP per capita measures the purchasing power of an economy in an internationally comparable way, the Report says.
This new addition to the WCM report takes a look at how the largest cooperative enterprises and mutuals in the world are moving towards achieving the SDGs, examining documents reported to the UN Global Compact project and Global Reporting Initiative (GRI), reads the Report.