NE BUSINESS BUREAU
NEW DELHI, OCT 23
Union Cooperation Minister Amit Shah on Monday said the National Cooperative for Exports Ltd (NCEL), an umbrella body for cooperative sector exports established on January 25, has received orders worth Rs 7,000 crore.
- There are 8 lakh cooperative societies in India with more than 29 crore members
- Union Home Minister and Minister of Cooperation releases the logo, website and brochure of NCEL and distributed membership certificates to NCEL members
- At least 50% of export profits will go to farmers through National Cooperative Export Limited
- Modi government is working towards increasing exports as well as creating a smooth system to deliver its benefits to the farmers
- NCEL is launched in the cooperative sector with 6 objectives of increasing exports, prospering the farmer, changing the crop pattern, providing global market for organic products, gaining a place for India in the global market for biofuel and strengthening the cooperative sector
- National Cooperative Export Limited will not only focus on profits, but focusing on the farmer will be its primary goal
- NCEL will also work to connect the Ministry of Commerce and Industry, Ministry of External Affairs and our embassies abroad with a Whole of Government Approach for market linkages
Amit Shah addressed the ‘National Symposium on Cooperative Exports’ organized by the National Cooperative Exports Limited (NCEL) in New Delhi on Monday.
The National Cooperative Export Limited (NCEL) has been created to facilitate cooperatives with export opportunities. Addressing the National Symposium on Cooperative Exports organized by the NCEL. https://t.co/05O9ObAO13
— Amit Shah (Modi Ka Parivar) (@AmitShah) October 23, 2023
After launching the new logo and website of NCEL, Shah said, “Currently, NCEL is operating from a temporary office. We are recruiting staff. So far, we (NCEL) have received orders worth Rs 7,000 crore.”
Union Minister @AmitShah addressed the 'National Symposium on Cooperative Exports' organized by National Cooperative Exports Limited (NCEL) in New Delhi today and also released the logo, website and brochure of NCEL and distributed membership certificates to NCEL members.… pic.twitter.com/PGlhYDF5Uk
— PIB India (@PIB_India) October 23, 2023
NCEL was registered under the Multi-State Co-operative Societies Act on January 25. With an authorised share capital of Rs 2,000 crore, NCEL will export the surplus available in the Indian cooperative sector to global markets. The country has about eight lakh primary to apex-level cooperative societies with more than 29 crore members and if these groups are interested in exports, they can get an NCEL membership.
While distributing membership certificates to five NCEL members at a national symposium in New Delhi, Shah said NCEL will ensure that export benefits reach member farmers of cooperatives, adding that 50 per cent of the profit over and above the minimum support price will be shared with them.
In his address, Amit Shah said that today the National Cooperative Export Limited is being formally launched on the auspicious day of Mahanavami. He said that today we are crossing a very important milestone on the way to realize the vision of Sahkarita Se Samriddhi, for which the Ministry of Cooperation was established for the first time since independence by Prime Minister Narendra Modi.
He said the cooperative will also help member farmers manufacture commodities for the export market and buy the products at minimum support price. NCEL will transfer 50 per cent of the total profit – over and above the minimum support price – directly into the bank accounts of member farmers.
Union Commerce Minister Piyush Goyal. Minister of State for Cooperation Minister BL Verma, Cooperation Secretary Gyanesh Kumar and NCEL chief Pankaj Kumar Bansal also attended the event.
