World Cooperative Monitor report 2021: IFFCO ranks first

The Indian Farmers Fertiliser Cooperative Limited (IFFCO) has been ranked ‘number one Cooperative’ among the top 300 cooperatives in the world. The ranking is based on the ratio of turnover over the gross domestic product (GDP) per capita. It signifies that IFFCO is contributing significantly to the GDP and economic growth of the nation. The 2021 edition of the 10th Annual World Cooperative Monitor (WCM) report, withholding its position from the 2020 edition.

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About the report:

• The 2021 WCM report is published by the International Cooperative Alliance (ICA) and European Research Institute on Cooperative and Social Enterprises (Euricse). WCM is a project designed to collect robust economic, organizational, and social data about cooperatives worldwide.
• The report is the 10th annual one and explores the economic and social impact of the largest cooperatives and mutual worldwide, providing a ranking of the top 300, sector rankings, and an analysis of responses to the current global challenges: Covid and climate change.

Important takeaways for all competitive exams:

• IFFCO Founded: 1967;
• IFFCO Headquarters: New Delhi, Delhi;
• IFFCO MD & CEO: DR. U. S. Awasthi.

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