In the country’s first National Cooperative Conference held on Saturday, 25th September 2021, Union Home Minister Amit Shah praised IFFCO’s use of nanotechnology to produce ‘nano urea liquid.’
He praised IFFCO for its dedication to make the Green Revolution a success in the country and for producing the world’s first nano liquid urea.
IFFCO – Indian Farmers Fertiliser Cooperative Limited
(IFFCO) is one of the country’s largest cooperative societies, owned entirely by Indian cooperatives.
The countries largest cooperative society was founded in 1967 with just 57 cooperatives, and now it is a conglomeration of over 36,000 Indian cooperatives with diverse businesses ranging from general insurance to rural telecommunications in addition to the flagship business of manufacturing and selling fertilizers.
IFFCO has reached over 5.5 crore (55 million) farmers in India through its extensive marketing network of over 36,000 cooperative societies.
On 31st May 2021, in New Delhi, IFFCO introduced the world’s first Nano Urea Liquid to farmers worldwide in the presence of its Representative General Body (RGB) members at its 50th annual general body meeting (AGM) held online-offline in India.
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Shah referred to this as a ‘new revolution’ in the farming sector, saying that ‘the entire cooperative fraternity in the country is appreciating this noble effort to change the agriculture sector for the benefit of farmers.’
IFFCO was established as a society in 1967, with 57 cooperatives. Today, the society has over 36,000 cooperative members and shares the dividends to approximately 5.5 crore farmers in the country.
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‘When a large corporation makes a profit, a large portion of it usually goes to the owner. In cooperatives, however, this is not the case. Whatever IFFCO earns today, every pie will be distributed to the homes of 5.5 crore farmers, a practice known as cooperative’ Shah stated.