By Dr.R.Ganesan, Director and Dr.S.L.N.T.Srinivas, Sr.Faculty (Co-op), Institute of Cooperative Management: Hyderabad (National Council For Cooperative Training (NCCT) New Delhi), Ministry of Cooperation, Govt. of India)
Global Cooperative Summit 2024, Empowering Prosperity through Digital Transformation and Sustainability
NEW DEHI, NOVEMBER 24, 2024: The Global Cooperative Summit 2024, to be held from 25th to 30th November, marks a significant step in India’s commitment to fostering the cooperative movement under the visionary theme of Vikasit Bharat: Sahakar Se Samruddhi (Developed India: Prosperity through Cooperation). This global event, spearheaded by the Ministry of Cooperation, Government of India, aims to emphasize the pivotal role of cooperatives in building a developed, self-reliant India. The summit brings together stakeholders from across the globe, including policymakers, cooperative leaders, financial institutions, and development experts, to discuss the future of cooperatives as dynamic vehicles for socio-economic transformation.
A major highlight of the summit is the emphasis on digital transformation. Recognizing the critical role of technology in enabling cooperatives to stay relevant and competitive, sessions will delve into how digital tools can be used for member engagement, operational efficiency, and expanding market access. This focus aligns with India’s vision under the Ministry of Cooperation to digitize the cooperative sector, with initiatives such as PACS computerization already setting benchmarks in the field.
The event also aims to spotlight cooperatives’ contributions to global sustainability. From promoting green energy initiatives and organic farming to supporting fair trade practices, cooperatives are uniquely positioned to address pressing global challenges. The summit will provide a platform for dialogues on how these organizations can further align their operations with the SDGs and contribute to a more sustainable future.
Empowering Cooperatives
The cooperative model in India has been instrumental in fostering inclusivity and equity in rural and semi-urban areas. With over 8 lakh cooperative societies and more than 30 crore members, the sector has proven to be a critical pillar of grassroots development. The summit highlights how cooperatives can be further strengthened through initiatives such as digitization, financial support, capacity building, and integration into global value chains. Programs like PACS computerization, the establishment of multi-purpose cooperatives, and the promotion of new cooperative federations underline the Government’s commitment to making cooperatives resilient and future-ready.
Global Cooperation for Local Impact
The Global Cooperative Summit 2024 will serve as a platform to exchange best practices and innovative strategies in cooperative governance, business development, and member participation. It will also explore solutions to contemporary challenges such as climate change, food security, and digital transformation, ensuring that cooperatives contribute effectively to sustainable development goals (SDGs). International delegates will bring diverse perspectives, enabling Indian cooperatives to align with global standards and benefit from technological advancements, market linkages, and policy frameworks.
Strengthening Sahakar Se Samruddhi
At the heart of the summit is the Sahakar Se Samruddhi initiative, which aims to unlock the untapped potential of cooperatives. The focus areas include enhancing governance practices, increasing financial viability, improving member participation, and leveraging digital tools for operational efficiency. The event will also highlight success stories from Indian cooperatives, demonstrating their impact on sectors like agriculture, dairy, fisheries, and handicrafts. Special attention will be given to empowering women and youth through cooperative enterprises, ensuring inclusivity and equitable growth.
A Pathway to Economic Resilience
The summit encapsulates the essence of collective effort in realizing the vision of a Vikasit Bharat. By strengthening cooperatives and enabling their integration into the national and global economy, the event will lay the foundation for a resilient and prosperous India. The outcomes of this summit are expected to shape policies and strategies for years to come, fostering a cooperative movement that embodies the spirit of Sabka Saath, Sabka Vikas, Sabka Vishwas, Sabka Prayas (Collective Effort, Inclusive Growth).
The Global Cooperative Summit 2024 is not just an event; it is a testament to India’s leadership in harnessing the power of cooperation for sustainable and inclusive development. It promises to inspire cooperative leaders and policymakers to chart a transformative path for the sector, ensuring prosperity for millions and contributing significantly to the realization of a developed and self-reliant India.
