Three National Level Multi-State Cooperative Societies (MSCS) Under MSCS Act, 2002 approved by Cabinet

Current Affairs

  • The Union Cabinet, chaired by the Hon’ble Prime Minister Shri Narendra Modi, has approved setting up and promoting a National Level multistate cooperative export society under the Multi-State Cooperative Societies (MSCS) Act, 2002 with support from relevant Ministries especially the Ministry of External Affairs and Department of Commerce, Ministry of Commerce and Industry through their export-related policies, schemes & agencies by following the ‘Whole of Government Approach’ for undertaking exports of all goods and services produced by cooperatives and related entities.
  • The proposed society will provide thrust to exports from the cooperative sector by acting as an umbrella organization for carrying out and promoting exports. This will help unlock the export potential of Indian cooperatives in global markets.
  • This proposed society will also help cooperatives in getting benefits of various export-related schemes and policies of different ministries of the Government of India in a focussed manner through the ‘Whole of Government Approach’.
  • This will also help in achieving the goal of “Sahakar-se-Samriddhi” through the inclusive growth model of cooperatives where the members would benefit both by the realization of better prices through the export of their goods and services and also by dividends distributed out of the surplus generated by the society.
  • Higher exports through the proposed society will increase the production of goods and services by the cooperatives at various levels thus leading to more employment in the cooperative sector.
  • Processing of goods and enhancing the services to match international standards will also generate additional employment.
  • Increased export of cooperative products would, in turn, also promote “Make in India” thus leading to Atmanirbhar Bharat.

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