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National Level Export Co-op Society To Be Unveiled On Oct 23

Updated: Oct 21, 2023 04:48:19pm

National Level Export Co-op Society To Be Unveiled On Oct 23

New Delhi, Oct 21 (KNN) The Union Ministry of Cooperation has tweeted about the formal launching of the National Level Multi State Export Cooperative Society event on X Friday morning. 

Ministry wrote “Union Home and Cooperation Minister Shri Amit Shah will inaugurate the “National Seminar on Cooperative Exports” organized by National Cooperative for Exports Limited (NCEL) in the presence of Union Commerce and Industry Minister Shri Piyush Goyal at Pusa Convention Centre on 23 October.”

The tweet further reads the Minister will launch the logo, website and brochure of NCEL and address the symposium. The Indian Cooperative is informed that about round 900 participants will take part in the event.

It bears recalling that the preparations for the formal launching of the three newly constituted-National Level Multi State Cooperatives are going on in full swing and they will be dedicated to the nation by Union Minister Amit Shah one by one.

The formal launching of the National Level Multi State Export Cooperative Society will be held on 23 October 2023, whereas the Seed Cooperative Society and the Organic Cooperative Society will be formally launched on 26 and 30 October 2023, respectively.

The National Multi State Cooperative Society for Exports will function as an umbrella organization to promote exports from the cooperative sector. About 400 cooperative societies of different levels, including PACS are likely to become the members of the export cooperative. The export cooperative is headed by the NCDC MD Pankaj Bansal.

Though NCEL (National Co-op Export Ltd) has still to appoint a regular CEO, it has already erected a Secretariat with staff drawn from co-op members. Interestingly, it had secured the green light for exporting rice to three countries in a govt to govt deal as soon as it was formed.

The Cooperative Export Society provides institutional support for aggregation of exportable domestic surplus, working capital, logistics, technical know-how and training. Some of its jobs include assessing the International market demand and tap export potential of cooperative products/services. 

This aims to lead to Direct participation of cooperatives in the country’s exports.

NCEL will also help in procurement, storage, processing, marketing, branding, labelling, packaging, certification, research and development etc. and trading all types of goods and services produced by cooperatives.

The Ministry officials were confident that it will lead to an increase in exports of surplus goods & services produced by cooperatives and promote “Make in India” leading to Atmanirbhar Bharat. It will lead to more employment in the cooperative sector, they stated.

NCEL is being supported by all the relevant Ministries – Ministry of External Affairs, Ministry of Commerce and Industry. The society will help cooperatives actualize benefits of various export related schemes and policies of the Government of India.

Besides NCDC MD, Other board members of NCEL are Rakesh Kapur, Joint MD, IFFCO, Shamalbhai Patel, Chairman, GCMMF, Chandra Pal Singh Yadav, Chairman, Kribhco, Bijendra Singh, Chairman, Nafed.

The five co-op bodies IFFCO, KRIBHCO, NAFED, GCMMF and NCDC have contributed Rs 100 Crore each and the society will have an authorized share capital of Rs 2,000 Crore. Its initial paid-up share capital is Rs 500 crore. Besides the promoters, the new body will have its members from primary to national level co-ops.

(KNN Bureau)


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