Union Minister of Home Affairs and Minister of Cooperation Amit Shah, is placing a strong emphasis on revitalising the cooperative movement in India, recognising its crucial role in fostering grassroots economic development, particularly in rural areas. The cooperative sector is vital for empowering local communities and enhancing their economic resilience, and Shah’s initiatives are aimed at reforming and strengthening this sector.
In July 2024, during an event in Gujarat, Shah announced the introduction of a new national cooperative policy designed to replace the existing policy from 2002. This updated policy aims to further strengthen the cooperative movement by extending its reach to the grassroots level. Currently, India boasts over 8.5 lakh cooperative societies with a member base of nearly 30 crore. These cooperatives engage in a diverse range of activities, including dairying, fishing, agro-processing, credit, housing, weaving, and marketing, reflecting the multifaceted nature of the cooperative sector.
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