Strengthening cooperatives: Building capacity to increase opportunities

At this juncture, it is critical to extend support to cooperatives for their long-term survival and sustainability

Ever since cooperatives became legal entities in India in 1904, member-owned enterprises have worked towards enabling marginalised communities to secure livelihoods and participate in the economy. Members pool resources to derive shared benefits and create institutions that empower local communities. In this context, a recent report released by Primus Partners, a consulting firm, does well to look at the sector’s potential to fuel growth in India. The report suggests that cooperatives can create up to 55 million direct jobs and 56 million self-employment opportunities by 2030. Their impact on gross domestic product is expected to be 3-5 per cent by