India believes co-operatives can give new energy to global cooperation, says Modi
Prime Minister Narendra Modi has underlined the need to create global financial institutions which can finance co-operatives across the world at the inauguration of International Cooperative Alliance (ICA) conference.
Addressing the ICA Global Cooperative Conference 2024 at New Delhi on 25 Nov, he lauded ICA for its huge role and said it was imperative to move beyond this in the future.
“The current situation in the world presents a big opportunity for the co-operative movement,” he stressed that there was a need to make co-operatives the flag bearer of integrity and mutual respect in the world. For this, he added, there was a need to innovate policies and strategize.
Underscoring the importance of making co-operatives climate resilient, PM Modi said the cooperatives should be connected to the circular economy and there was an immediate necessity to promote start-ups in among these institutions.
“India believes that co-operatives can give new energy to global cooperation,” emphasised the Prime Minister, adding that the co-operatives could help the countries of the Global South, in particular, to achieve the kind of growth they need.
“Therefore, today it was necessary to innovate new ways for international collaboration of co-operatives and today’s Global conference could be of great assistance.”
Highlighting the importance of cooperatives was not just about the structure, rules and regulations, PM Modi remarked that institutions can be formed from them, which could further develop and expand.
He added that the spirit of co-operatives was most important and this cooperative spirit was the life force of this movement and comes from the culture of cooperation.
He concluded the address, expressing confidence that there will be continued work to strengthen this feeling in the ‘International Year of Co-operatives’.
ICA Global Cooperative Conference and ICA General Assembly is being organised in India for the first time in the 130-year long history of International Cooperative Alliance (ICA), the premier body for the Global Cooperative movement. Fiinews.com
