Union Home Minister Amit Shah recently inaugurated the logo, website, and brochure of the National Cooperative Exports Limited (NCEL) during a grand event in New Delhi. This momentous occasion marked the formal establishment of NCEL, a significant step towards enhancing the cooperative sector’s role in India’s export ecosystem.
NCEL as the National Cooperative Exports Umbrella
NCEL has been established to serve as a national-level multi-state cooperative society that will act as an umbrella organization for exports within the cooperative sector. This visionary initiative is set to open up new avenues for cooperatives, fostering economic growth and inclusivity.
The Role of NCEL
NCEL is committed to empowering farmers, laborers, and traders by providing them with opportunities for integrated growth. NCEL is poised to make a substantial impact on the export landscape, benefiting both cooperatives and the nation.
NCEL’s Authorized Share Capital of Rs 2,000 Crore
NCEL boasts an authorized share capital of Rs 2,000 crore, reflecting the significant financial backing it has received to fulfill its mission.
NCEL’s Commitment to Unifying Cooperative Stakeholders
NCEL aims to extend its membership to all cooperative societies interested in exports. This inclusive approach reflects NCEL’s commitment to bringing all cooperative stakeholders under one umbrella.
NCEL’s Key Mission to Expand Global Reach
NCEL’s primary objective is to promote the export of additional products available in the Indian cooperative sector, thereby diversifying India’s export portfolio and accessing broader global markets.
Membership and Orders
The NCEL has witnessed remarkable growth, with approximately 1500 cooperatives becoming its members. Negotiations are underway for orders worth Rs 15,000 crore, in addition to the Rs 7,000 crore worth of orders already received. The minister expressed confidence that NCEL, like prominent cooperatives such as IFFCO, KRIBHCO, and Amul, will emerge as a significant and successful cooperative venture.
Symposium and Key Discussions
The inauguration event also served as the backdrop for the National Symposium on Cooperative Exports. The symposium brought together experts and stakeholders to discuss various crucial topics.
1.Channelizing Cooperatives for Exports
One of the key discussions revolved around channelizing cooperatives for linkages to export markets. This strategy seeks to leverage the existing cooperative network to expand India’s reach in global markets.
2.Potential of Indian Agri-Exports
The symposium explored the enormous potential of Indian agricultural exports and how cooperatives can contribute to this sector’s growth.
3.Opportunities for Cooperatives
Stakeholders discussed opportunities for cooperatives, highlighting how NCEL can serve as a platform to help cooperative societies at all levels participate in the export market.
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