India will become the third largest economy in a few years: Amit Shah

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Great Noida:

Cooperation Minister Amit Shah said on Monday India will become the world’s third largest economy in a few years and the cooperative sector will also play a crucial role in the country’s economic growth.

Mr Shah, who is also Home Secretary, announced the government would help set up 2,000 new village-level dairy cooperatives ahead of the 2024 general election.

He urged the dairy industry to embrace professionalism, latest technology, computerization and digital payments on a large scale, otherwise it may face difficulties in the future.

The minister called on the dairy industry to increase milk production to meet rising domestic demand and also supply poor countries.

He also urged industry to become self-sufficient in manufacturing milk-processing machinery.

Mr. Shah was speaking at the International Dairy Federation World Dairy Summit (IDF WDS) 2022 being organized here September 12-15 at the India Expo Center & Mart.

The minister said that India was the 11th largest economy in the world in 2014 and is now the 5th largest.

“I am firmly convinced that we will reach third place in a few years’ time,” said the minister.

Mr Shah expressed confidence that the contribution of the cooperative sector would also be discussed as the country becomes the world’s third largest economy.

Shah explained that the summit is being organized after a 48-year hiatus, saying the country has now become self-sufficient in milk production and also an exporter.

The minister tried to distinguish between dairy cooperatives and companies operating in the sector.

Mr Shah said the dairy cooperatives had played a big role in empowering women and also in tackling malnutrition.

“Cooperative sector and dairy cooperatives have done a lot of work in rural development,” he added.

Mr Shah urged the dairy industry to make natural farming its lifeline as it would improve people’s health and also strengthen the economic system.

The minister announced that three multi-cooperatives would be set up to promote organic farming and exports.

By the end of this month, Mr Shah said Amul will set up an export house to promote organic products.

The minister also shared the success story of Amul whose annual turnover has reached about 60,000 rupees.

Mr Shah stressed that 77 percent of retail milk prices are passed on to farmers, compared to 40-45 percent globally.

The minister stressed that the cooperative model is the best for comprehensive development.

In his address, the Prime Minister of Uttar Pradesh, Yogi Adityanath, said that the cooperative sector in the state has enormous room for growth.

For job creation and rural prosperity, he stressed the need to promote the cooperative and dairy sectors.

The dairy sector provides livelihood and nutrition for farmers, said Yogi Adityanath.

Union Fisheries, Animal Husbandry and Dairying Parshottam Rupala urged cooperatives to encourage the use of cow dung and cow urine, which he says are sacred.

The National Dairy Development Board (NDDB) has already set up a company to research cow dung and urine, he added.

(This story was not edited by NDTV staff and is auto-generated from a syndicated feed.)

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