IFFCO Ranked #1 Cooperative Globally | IFFCO News
Feb 22, 2024 18:53
IFFCO has been ranked as the top cooperative in the world for the second year in a row, based on its significant contribution to India's GDP and economic growth. Learn more about IFFCO's achievements and commitment to farmers.
New Delhi, Feb 22 (PTI) IFFCO, one of the leading fertiliser players in the country, has been ranked first among top 300 cooperatives in the world.
Indian Farmers Fertiliser Cooperative Ltd (IFFCO) has again been ranked as top cooperative among top 300 cooperatives in the world, sustaining its position from the last year, according to a statement on Thursday.
The ranking is based on the ratio of turnover over Gross Domestic Product (GDP) per capita.
It signifies that IFFCO is contributing significantly to the GDP and economic growth of the nation, the statement said.
It relates to the turnover of the enterprise to the wealth of the country according to the 2023 edition of the 12th Annual World Cooperative Monitor (WCM) report published by International Cooperative Alliance (ICA).
IFFCO has also improved its ranking to 72nd in overall turnover ranking from 97th position in last financial year.
Commenting on the development, IFFCO MD Uday Shankar Awasthi said, "It is a proud moment for us at IFFCO and the Indian Cooperative Movement as well. At IFFCO, we are always committed towards the mission of increasing farmers' income, ensuring wholesome growth of farmers across the nation, and strengthening the cooperative movement."
He said the cooperative organisation believes in innovation and has introduced nanotechnology-based solutions for agriculture, especially alternative fertilisers, beginning with IFFCO nano liquid urea.
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