National Export Co-operative Society | UPSC Current Affairs

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Context:

Nano fertilizers produced by IFFCO and dairy products from Amul will be among the first few products that are expected to be exported by the first-ever National Export Co-operative Society.

Details:

The Union Cabinet, has approved setting up and promoting a National Level multistate cooperative export society under the Multi State Cooperative Societies (MSCS) Act, 2002.
The proposed society will provide thrust to exports from cooperative sector by acting as an umbrella organisation for carrying out and promoting exports. This will help unlocking export potential of Indian cooperatives in global markets. This proposed society will also help cooperatives in getting benefits of various export related schemes and policies of different ministries of Government of India in a focussed manner through ‘Whole of Government Approach’. This will also help in achieving the goal of “Sahakar-se-Samriddhi” though the inclusive growth model of cooperatives where the members would benefit both by realization of better prices through export of their goods and services and also by dividend distributed out of the surplus generated by the society.
Higher exports through the proposed society will increase the production of goods and services by the cooperatives at various levels thus leading to more employment in the cooperative sector. Processing of goods and enhancing the services to match international standards will also generate additional employment. Increased export of cooperative products would, in turn, also promote “Make in India” thus leading to Atmanirbhar Bharat.