PHDCCI hosts Summit on Cooperatives: Building the Foundation of Viksit Bharat through 54 New Initiatives of MoC

PR No – 29

24th January, 2024

New Delhi


PHDCCI hosts Summit on Cooperatives: Building the Foundation of Viksit Bharat through 54 New Initiatives of MoC

PHDCCI today organized the “Summit on Cooperatives: Building the Foundation of Viksit Bharat through 54 New Initiatives of MoC at PHD House, New Delhi.

Mr R P Singh, Director (HR & Legal), IFFCO; Co-Chair, Task Force on Cooperatives, PHDCCI deliberated on the evolving perspective of industries towards cooperation and synergy through such events. It is deeply rooted in Indian ethos, as even in earlier times, there have been existing societies of various workers. He emphasized that cooperatives are mutually aided societies and stand on the line of our PM’s slogan as well – ‘Sabka Saath, Sabka Vikas, Sabka Prayas, and Sabka Vishwas.’ The whole concept of cooperatives is based on a consumer-centric economic model. In conclusion, he shared that in Maharashtra alone, there are cooperative initiatives with a work value exceeding 5 thousand crores.

Smt. Savitri Singh, Deputy CEO, National Cooperative Union of India (NCUI) underscored the tremendous strength of cooperatives, describing them as a business model that is empowering individuals, both economically and socially. She emphasized that cooperatives cover 95% of the country, providing employment and livelihood in remote areas. The cooperative business model can be a critical vehicle for the contribution to Viksit Bharat, she added and further stressed the importance of collaboration at multiple levels and contributions from various stakeholders for effective functioning.

Shri Vinay Chauhan, Chairman, National Federation of Labour Cooperatives Ltd. expressed appreciation for the government’s initiatives and efforts. He further highlighted the focus of labor cooperatives on protecting workers from exploitation by contractors and commended the government for its 54 initiatives he also requested the government to provide free hand to cooperative societies.

CMA Navneet Kumar Jain, Chairman, Cooperative Development Board, ICMAI emphasized on the role of cooperatives in setting the tone for India’s progress. He highlighted the need for organizational focus on ensuring the success of cooperatives.

Shri Vineet Nahata, Chair, Task Force on Cooperatives, PHDCCI highlighted the key strength of cooperatives in empowering individuals and communities. He emphasized the role of technology in shaping the movement, urging a deeper exploration and leveraging of technological advancements. He further acknowledged and hope stronger collaboration of government initiatives and their symbiotic relationship with cooperative endeavors.

The Summit was moderated by Dr. Jatinder Singh, Assistant Secretary General, PHDCCI. Technical sessions was moderated by Shri Rupesh Pandey, Sr. Secretary, PHDCCI.

The event also witnessed the release of the research report titled, ‘Building the Foundation of Viksit Bharat’.

The Event was sponsored by IFFCO, powered by Power Gilt, and was supported by PHDCCI annual sponsors, DLF Ltd; Jindal Steel & Power; KLJ Group; Multani Pharmaceuticals Ltd; Marble City; MMG Group; Radico Khaitan Ltd;  Uflex Ltd; Vestige; Eazy ERP Technologies; JK Tyre & Industries Ltd; Sagar Group of Industries; Superior Industries Limited; Samsung India Electronics; Oswal Greentech; Apeejay Stya Group; Blossom Kochhar Beauty Products Pvt Ltd; DCM Shriram;  R E Rogers; Trident Group; Ajit Industries Pvt Ltd;  Bhagwati Plastic and Pipes Industries; Central Coalfields Ltd; DD Pharmaceutical Ltd.;  Hindware Sanitary; Jindal Steel;  Modern Automobiles;  P S BEDI & Co.


Warm Regards,

Media Division

PHD Chamber of Commerce and Industry