New Delhi, Nov 19 (NationPress) Union Home and Cooperation Minister Amit Shah stated on Wednesday that the National Cooperative Development Corporation (NCDC) has become a significant instrument for enhancing the capabilities of cooperative societies.

During the 92nd General Council Meeting of the NCDC in New Delhi, the Cooperation Minister remarked, “Since the formation of the Ministry of Cooperation under Prime Minister Narendra Modi, the cooperative sector has achieved remarkable growth, and NCDC has become the cornerstone of this evolution.”

Shah emphasized the Government's dedication to positively impacting the lives of farmers, rural families, fishers, small producers, and entrepreneurs through the cooperative movement, asserting that cooperation is crucial for the nation’s journey toward self-reliance.

According to Amit Shah, NCDC, which was formed to empower cooperative societies and facilitate financial aid to them, has escalated its total disbursement from Rs 24,700 crore in the fiscal year 2020-21 to Rs 95,200 crore in 2024-25. Over the past four years, NCDC has launched significant initiatives aimed at reinforcing the cooperative sector, setting new standards in financial inclusion, innovation, and growth.

Shah remarked that cooperation represents an excellent model for transforming India into a developed economy, as it fosters participation and creates livelihood opportunities in rural regions. In the last four years, NCDC has seen a compound annual growth rate of over 40%, maintained zero net NPA, and reached its highest-ever net profit of Rs 807 crore, thus bolstering the institution’s credibility and standing. NCDC has made substantial contributions to the dairy, food processing, textiles, and marketing sectors through DCCBs, State Cooperative Banks, and State Marketing Federations.

The initiatives to evolve PACS into Farmer Producer Organisations ensure that farmers are compensated fairly for their produce, promoting community benefits over individual gains.

To advance organic farming, production, and exports in line with the Green Revolution, multi-state cooperative entities like National Cooperative Export Limited (NCEL), Bharatiya Beej Sahakari Samiti Limited (BBSSL), and National Cooperative Organic Limited (NCOL) are focused on driving these efforts.

In the fisheries domain, NCDC has successfully formed and strengthened 1,070 FFPOs, and under the Pradhan Mantri Matsya Kisan Samriddhi Sah-Yojana, initiatives are underway to enhance 2,348 FFPOs. The financial support for purchasing trawlers for deep-sea fishing in Maharashtra and Gujarat has invigorated the Blue Economy and economically empowered the fishing community, particularly women.

Shah called for a shift towards a circular economy in the sugar and dairy sectors to amplify profitability. Following a Rs 1,000 crore government grant for modernizing cooperative sugar mills, NCDC has allocated Rs 10,005 crore to 56 sugar mills for ethanol production, co-generation, and working capital, enabling these mills to tap into alternative income sources and low-interest loans.

The Home Minister noted that NCDC is crucial in establishing the cooperative-based “Bharat Taxi” ride-hailing service. The new multi-state cooperative society has been registered, with driver enrollment and technological development currently underway.

NCDC has broadened the scope of cooperation by opening a new regional office in Vijayawada, along with sub-offices in Jammu and Kashmir, Ladakh, Sikkim, Manipur, Mizoram, Tripura, Arunachal Pradesh, Meghalaya, and Nagaland.

With a Rs 2,000 crore government grant approved on July 31, 2025, NCDC is mobilizing Rs 20,000 crore to offer long-term and working capital loans at concessional rates to dairy, livestock, fisheries, sugar, textile, food processing, storage, cold storage, agriculture, and women's cooperative societies. Furthermore, NCDC has extended significant support to the umbrella organization of urban cooperative banks and Sahakar Sarathi, which will provide technology services to urban and rural cooperative banks.

To enhance youth involvement, NCDC’s ‘Cooperative Intern’ program is being executed effectively, with selected interns delivering technical and managerial assistance to cooperative institutions.

The General Council of NCDC is composed of 51 members, including senior officials from various ministries, state governments, top cooperative organizations, and NITI Aayog.