IN JUNE, THE United National General Assembly (UNGA) adopted a resolution proclaiming 2025 as the International Year of Cooperatives with 'Cooperatives Build a Better World' as the theme. Marking its official launch recently in New Delhi, attended by global leaders and representatives of the United Nations, Prime Minister Narendra Modi highlighted the importance of these grassroots business enterprises, mostly owned by their members, saying cooperatives are the vital cog in India's economic wheels of progress, in delivering benefits to the poor, and that the sector serves as a glue for the Global South.
The Global South also feels the same way. At the conference, Bhutan Prime Minister Dasho Tshering Tobgay said the Himalayan country was building a new city spread over 2,500 sq km based on a cooperative model. While Tobgay emphasized the need to strengthen cooperation among cooperatives to guarantee global prosperity, for Fiji's deputy Prime Minister Manoa Kamikamica, cooperatives are the Pathways out of Poverty.
This story is from the December 26, 2024 edition of Financial Express Mumbai.
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This story is from the December 26, 2024 edition of Financial Express Mumbai.
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