FARM and allied sector co-operatives have a huge potential to play a key role in making India a USD 5 trillion economy in next five years, Agriculture Minister Narendra Singh Tomar said on Friday. However, the co-operatives need a push to compete in the global market, he said at the inauguration of the first ever three-day India International Co-operatives Trade Fair here. The minister also launched startup scheme ‘Yuva Sahakar’ and NGO Sahakar Bharti’s ‘Simply Desi’ brand to promote products manufactured by co-operatives.

“The Prime Minister has given a target of achieving USD 5 trillion economy. We can achieve this if we focus on Gaon, Gharib and Kisan (villages, poor and farmers). And co-operatives have potential and can play a big role in achieving this target,” Tomar said.

The co-operative culture is not new to India and there is a need to strengthen and enable them to compete in the global market, he said. Some co-operatives like IFFCO and Amul have been able to operate on a large scale in the country as well as compete at global level. But there is potential and opportunity for other co-operatives to rise, he added.

The minister said promotion of farm co-operatives can help in doubling farmers’ income as well as boost agri-export from the current USD 30 billion to USD 60 billion in next five years. Stating that the central Government resources are not sufficient to promote co-operatives, Tomar said state Governments need to give thrust and support them. Co-operatives should not just limit to lending and running ration shops, he said.

The international co-operative trade fair provides an opportunity to over 120 participating co-operative units to learn branding, marketing as well as co-operative business model of other countries, he added.

The trade fair is being organised by National Cooperative Development Corporation (NCDC) in association with Bangkok-based international organisation NEDAC and India’s co-operatives like Nafed with support of agriculture, commerce and external affairs ministries. Ministers of State for Agriculture Purushottam Rupala and Kailash Choudhary, Meghalaya Deputy Chief Minister Prestone Tynsong, Uttarkhand Coop Minister Dhan Singh Rawat.

, Agriculture Secretary Sanjay Agarwal and NCDC Managing Director Sundeep Kumar Nayak were also present at the event.