India’s Commerce and Industries minister Piyush Goyal on 13th of October while addressing the closing ceremony of first ever “India International Cooperative Trade Fair (IICTF)” in New Delhi stated that there should be an International framework for expansion of the cooperatives.
The Minister gave ideas on how indigenous and ethnic products produced by cooperatives can be Marketed on E-commerce platforms.
The Minister expressed happiness that the foot fall at the IICTF has been more than 35 thousand and the trade enquires were more than 4 thousand, a number of VVIPs like Governors, Chief Ministers other Ministers and foreign dignitaries attended the fair.
Over one billion people around the world are members of a cooperative. More than 12% of humanity is part of any of the 3 million cooperatives in the world.
Financial cooperatives serve 13 per cent of the world Population while agricultural cooperatives produce 50 per cent of global agriculture output implying immense potential that exists in the Sector for global trade.
According to Agriculture & Farmers Welfare Ministry’s press release, 75 MoUs were signed at the 3 day IICTF.
Thematic sessions were held on Globalisation of Cooperative Trade, Cooperative Banking and Financial Inclusion, Empowerment of Youth and Women through Cooperatives, Agro-processing Ecosystem through Cooperatives, Agri-Tech and Climate Smart Agriculture through cooperatives, Cooperatives as Cost Effective and Efficient Service providers, Big Data and cyber security in Cooperative Sector, Dairy Cooperative Opportunities for Value Addition and Trade and Farm Mechanisation and Inputs Supply- Role of Cooperatives.
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