News Analysis India

Tag: Suresh Prabhu

  • New National Cooperative Policy almost ready, draft submission underway: Suresh Prabhu

    By PTI

    KOLKATA:  The new National Cooperative Policy is almost ready, and a 47-member committee is in the process of submitting the draft to the central government, chairman of the panel and former Union minister Suresh Prabhu said.

    Union Home and Cooperation Minister Amit Shah had last year announced that a dedicated policy will soon be prepared to strengthen the cooperative movement in the country, and that Prabhu will head the national-level committee.

    The panel members include experts and representatives of the cooperative sector and officials of central ministries.

    “The policy document is almost ready and the submission process is underway. We can now look forward to the release of the policy and its implementation,” Prabhu told PTI on the sidelines of an event organised by the Merchants’ Chamber of Commerce & Industry here.

    The former commerce and industry minister said the policy has the potential to change the socio-economic dimension of India, substantially increasing the share of cooperatives in the total GDP.

    Prabhu said the idea behind the policy is to promote a cooperative-based economic development model backed by a legal and institutional framework.

    “I have been connected with all types of national and international cooperatives for a long time, and know their potential. Any economic activity will add value to people’s lives, but cooperatives help in spreading and distributing income while creating wealth.

    “And, that is the reason the government is thinking of increasing the share of cooperatives in almost all sectors of the economy,” he said.

    The existing National Policy on Cooperatives was formulated in 2002.

    India has around 8.5 lakh cooperative societies with a member base of nearly 29 crore, according to government data.

    These cooperatives are engaged in varied activities like agro-processing, dairying, fisheries, housing, weaving, credit and marketing.

    Prabhu, also a former railway minister, added that the cooperation ministry has decided upon creating cooperative warehousing as well.

    “I think this is an amazing idea to further boost cooperatives. Millions of square metres of warehousing are being developed across the country,” he added.

    In his Independence Day address, Prime Minister Narendra Modi said that cooperatives are a significant part of India’s social economy, and that a separate ministry was created to empower cooperatives and spread their network.

    KOLKATA:  The new National Cooperative Policy is almost ready, and a 47-member committee is in the process of submitting the draft to the central government, chairman of the panel and former Union minister Suresh Prabhu said.

    Union Home and Cooperation Minister Amit Shah had last year announced that a dedicated policy will soon be prepared to strengthen the cooperative movement in the country, and that Prabhu will head the national-level committee.

    The panel members include experts and representatives of the cooperative sector and officials of central ministries.googletag.cmd.push(function() {googletag.display(‘div-gpt-ad-8052921-2′); });

    “The policy document is almost ready and the submission process is underway. We can now look forward to the release of the policy and its implementation,” Prabhu told PTI on the sidelines of an event organised by the Merchants’ Chamber of Commerce & Industry here.

    The former commerce and industry minister said the policy has the potential to change the socio-economic dimension of India, substantially increasing the share of cooperatives in the total GDP.

    Prabhu said the idea behind the policy is to promote a cooperative-based economic development model backed by a legal and institutional framework.

    “I have been connected with all types of national and international cooperatives for a long time, and know their potential. Any economic activity will add value to people’s lives, but cooperatives help in spreading and distributing income while creating wealth.

    “And, that is the reason the government is thinking of increasing the share of cooperatives in almost all sectors of the economy,” he said.

    The existing National Policy on Cooperatives was formulated in 2002.

    India has around 8.5 lakh cooperative societies with a member base of nearly 29 crore, according to government data.

    These cooperatives are engaged in varied activities like agro-processing, dairying, fisheries, housing, weaving, credit and marketing.

    Prabhu, also a former railway minister, added that the cooperation ministry has decided upon creating cooperative warehousing as well.

    “I think this is an amazing idea to further boost cooperatives. Millions of square metres of warehousing are being developed across the country,” he added.

    In his Independence Day address, Prime Minister Narendra Modi said that cooperatives are a significant part of India’s social economy, and that a separate ministry was created to empower cooperatives and spread their network.

  • Centre expected to unveil new National Cooperation Policy in July this year

    By Agencies

    NEW DELHI:  The new National Cooperation Policy is expected to be unveiled in July after consulting all the stakeholders, including state governments, central ministries and departments as well as National Cooperatives, the Ministry of Cooperation said on Monday.

    The expected time was informed in a meeting chaired by Union Home Minister and Cooperation Minister Amit Shah here earlier on Monday.

    A 49-member committee headed by former minister Suresh Prabhu on Monday submitted the draft new national cooperation policy, along with key recommendations, to Cooperation Minister Amit Shah, who has shared further inputs based on which a revised draft will be prepared.

    The Committee members also briefed Shah about the objectives, vision and mission of the draft policy along with key recommendations in various sectors including structural reforms and governance, cooperatives as vibrant economic entities, level playing field for cooperatives, sources of capital and funds, inclusion of priority sections, use of technology, upskilling and training, sustainability and implementation plan.

    During the meeting, the Minister of Cooperation gave his guidance on how to realise Prime Minister Narendra Modi ji’s vision of ‘Sehkaar se Samriddhi’ and to strengthen the Cooperative movement at the grassroots level through the new policy.

    “As per the guidance received from the Minister of Cooperation, the Committee will prepare a revised draft. The new Cooperation Policy is expected to be unveiled in July 2023 after consulting all the stakeholders including state governments, central ministries and departments, and National Cooperatives,” said the Ministry.

    The current policy on cooperation was formulated in 2002 and a need was felt to draft a new national policy to deal with the changed economic scenario.

    Therefore, a committee was formed on September 2, 2022, to draft a new policy to realise Prime Minister Narendra Modi’s vision of ‘Sehkaar se Samriddhi’.

    The drafting Committee, chaired by Suresh Prabhu, comprises members drawn from all over the country and various stakeholders such as officers of cooperation departments of various state governments, ministries and departments concerned with central government institutions like IRMA, RBI, National federations like IFFCO, NCCF, NAFCARD, NAFCUB, KRIBHCO, NFCSF, NCUI, NAFED, representatives from Cooperative Societies in various sectors, academicians and experts.

    The process of forming a new National Cooperation Policy was initiated when the concept was discussed in the conference of state cooperation secretaries held on the 12th and 13th of April 2022 and State Cooperation Ministers held on September 8 and September 9, 2022, which were inaugurated by the Union Home Minister and Minister of Cooperation.

    More than 500 suggestions were received from various stakeholders and the general public for the draft policy document. The National level Committee after its formation held more than eight meetings and also consulted various stakeholders to prepare the draft document. 

    (With inputs from PTI and ANI)

    NEW DELHI:  The new National Cooperation Policy is expected to be unveiled in July after consulting all the stakeholders, including state governments, central ministries and departments as well as National Cooperatives, the Ministry of Cooperation said on Monday.

    The expected time was informed in a meeting chaired by Union Home Minister and Cooperation Minister Amit Shah here earlier on Monday.

    A 49-member committee headed by former minister Suresh Prabhu on Monday submitted the draft new national cooperation policy, along with key recommendations, to Cooperation Minister Amit Shah, who has shared further inputs based on which a revised draft will be prepared.googletag.cmd.push(function() {googletag.display(‘div-gpt-ad-8052921-2’); });

    The Committee members also briefed Shah about the objectives, vision and mission of the draft policy along with key recommendations in various sectors including structural reforms and governance, cooperatives as vibrant economic entities, level playing field for cooperatives, sources of capital and funds, inclusion of priority sections, use of technology, upskilling and training, sustainability and implementation plan.

    During the meeting, the Minister of Cooperation gave his guidance on how to realise Prime Minister Narendra Modi ji’s vision of ‘Sehkaar se Samriddhi’ and to strengthen the Cooperative movement at the grassroots level through the new policy.

    “As per the guidance received from the Minister of Cooperation, the Committee will prepare a revised draft. The new Cooperation Policy is expected to be unveiled in July 2023 after consulting all the stakeholders including state governments, central ministries and departments, and National Cooperatives,” said the Ministry.

    The current policy on cooperation was formulated in 2002 and a need was felt to draft a new national policy to deal with the changed economic scenario.

    Therefore, a committee was formed on September 2, 2022, to draft a new policy to realise Prime Minister Narendra Modi’s vision of ‘Sehkaar se Samriddhi’.

    The drafting Committee, chaired by Suresh Prabhu, comprises members drawn from all over the country and various stakeholders such as officers of cooperation departments of various state governments, ministries and departments concerned with central government institutions like IRMA, RBI, National federations like IFFCO, NCCF, NAFCARD, NAFCUB, KRIBHCO, NFCSF, NCUI, NAFED, representatives from Cooperative Societies in various sectors, academicians and experts.

    The process of forming a new National Cooperation Policy was initiated when the concept was discussed in the conference of state cooperation secretaries held on the 12th and 13th of April 2022 and State Cooperation Ministers held on September 8 and September 9, 2022, which were inaugurated by the Union Home Minister and Minister of Cooperation.

    More than 500 suggestions were received from various stakeholders and the general public for the draft policy document. The National level Committee after its formation held more than eight meetings and also consulted various stakeholders to prepare the draft document. 

    (With inputs from PTI and ANI)

  • Global Trading System Must Include Services Trade: Suresh Prabhu

    Minister of Commerce and Industry, Suresh Prabhu delivering keynote address at 6th Growth Net Summit in New Delhi

    Services trade is growing faster than merchandise and such dynamic changes need to be captured in the global trading system, stated Suresh Prabhu, Minister of Commerce and Industry and Civil Aviation. He was speaking at the 6th Growth Net Summit, being held in New Delhi on 18-19 June 2018, organized by AnantaCenter and Confederation of Indian Industry (CII) with Smadja&Smadja.

    Services trade requires movement of people, unlike merchandise trade, said the Minister. He stated that India is aiming at a $5 trillion economy by year 2026-27 and goods and services exports are targeted at $1 trillion of this. Over the last year, goods and services exports grew by over 12%, he noted.

    The government is working on a comprehensive strategy to boost services exports and $1 billion will be spent to promote 12 champion services sectors. For the first time, a strategy of products in new markets is being developed. Exports are also being promoted in regions like Africa, Latin America and Central Asia, added the Minister.

    Noting that the World Trade Organisation was created as part of a rules-based, multilateral, democratic and participatory institution for expanding global trade, he said that countries have recognized the value of global trade for fosteringgrowth and creating jobs. India is working with other countries to ensure that WTO remains relevant, he said.