Cooperative the best business model in era of globalization

Speaking on the occasion of Valedictory Function of 15th Indian Cooperative Congress organised by National Cooperative Union of India, Narendra Modi, Chief Minister, Gujarat said that globalisation does not pose a threat but presents a good opportunity for cooperatives to show their strength. "The cooperatives should work with a real spirit like Gujarat where cooperative movement is flourishing", he said. Modi further emphasised on the need for cooperatives to come up in the field of water management because of their participatory character. In this respect, he announced that Government of Gujarat has decided to gives rights to cooperatives to manage and distribute the water of Sardar Sarobar Dam. Modi further asked cooperatives to diversify in new areas. "As service sector has potentiality of 40% growth in future, cooperatives should show their dominance in this field", he said. Modi also asked the cooperatives to use their property and assets multi-utilities use so that they can generate income and enhance their best image. The Chief Minister further said that hundred year old cooperative movement have its own intrinsic strength to compete with the corporate sector. He sited example of Dairies cooperatives and inform that dairy in Gujarat is very-2 successful and gives jitter to its competitor in the market place. He said that due to participatory nature of the cooperatives they can be more in the service sector and they have to look the ways and means to participate in venture in new areas of businesses. He urges that the application of technology will increase efficiency and transparency in the sector and apex organization should work as a facilitator in the sector.

Speaking on the occasion Balram Jakhar, Governor of Madhya Pradesh eliminated that people do not have faith in cooperatives, and there is very less participation of people in cooperatives. "Cooperatives must introspect, identify their weaknesses and work hard to compete in the market economy", he said. He also opined that there should be less interference in the functioning of cooperatives.

G.H. Amin, President, National Cooperative Union of India speaking in the occasion said that Income Tax concession to the cooperatives should be given. He also said that the cooperatives must be given concessions or privileges necessary for their growth, and in this respect they should not be discriminated like private sector.

On the occasion awards were given to best Regional Institutes of Cooperative Management. The first Prize went to Regional Institute of Cooperative Management, Banglore, second Prize went to Regional Institute of Cooperative Management, Lucknow and third Prize went to ICM, Gujarat.