Union Home and Cooperation Minister Amit Shah on Monday (July 6, 2026) said a cooperative life insurance company will be set up to boost the growth of cooperatives in the country. He said the Cooperation Ministry has given a new “lifeline” to India’s cooperative movement, which was “neglected” during the Congress rule.
Speaking on the 5th Foundation Day of the Ministry of Cooperation, he said cooperatives have expanded to many sectors and are not restricted to dairy, sugar, and fertilizer businesses. He said Bharat Taxi, a co-operative-based ride hailing platform, has been doing well and will be expanded to 500 cities in the next two years. The fertilizer cooperative IFFCO is already in the insurance business through a joint venture with a Japanese firm.
India has around 8.5 lakh cooperatives with more than 30 crore members.
Mr. Shah listed out the initiatives taken by the Ministry in the past five years, including steps to bring transparency and professionalism into the cooperative ecosystem. He said the Ministry has created a database of the sector which will help in its expansion.
The Minister said the government is establishing the ‘Tribhuvan’ Sahkari University at Anand in Gujarat, which will augment the country’s human resource.
Referring to the initial apprehension that the Cooperation Ministry will interfere in the working of the State governments, he said even the Congress-ruled States have not complained in the past five years about interference. “The Union Ministry is not for interfering in the State subject. It is for policy making,” he said.
During the event, Mr. Shah laid the foundation stone and inaugurated several projects and initiatives which include the transfer of 135 grain godowns with a capacity of 75,000 tonnes, the inauguration of 85 godowns, and virtually laying the foundation stone for 47 grain storage godowns.
Groundbreaking ceremonies of Sahakar Van by Amul and NCCF as well as of tissue culture facilities of Bharatiya Beej Sahakari Samiti Ltd. (BBSSL) at Barabanki in Uttar Pradesh and Jalgaon in Maharashtra were conducted.
Another highlight of the programme was the transformation of 50,000 Primary Agriculture Cooperative Societies (PACS) into e-PACS, marking a significant step towards digital empowerment of grassroots cooperative institutions. During the programme, a Memorandum of Understanding was signed between BBSSL and ICAR for strengthening seed systems.
Mr. Shah released model bylaws for dairy cooperative societies and a book highlighting the achievements of the Ministry in the past five years.
Published - July 06, 2026 04:46 pm IST
