SwitchON Foundation

100th United Nation International Day of Cooperatives

Published in: EEWA

6th July, 2022

2nd July, Kolkata: As Cooperatives all around the world celebrates the 100th United Nation International Day of Cooperatives (#CoopsDay). SwitchON Foundation organized a stakeholder meeting to discuss regional financing of climate-smart technologies with an aspiration to rebuild a better future. The day highlights the unique contribution of cooperatives to making the world a better place, this year’s #CoopsDay slogan / theme given by the UN is “Cooperatives Build a Better World”.

The event organized by SwitchON Foundation saw wide participation from distinguished Farmer Group, Cooperative Bank Managers, and Regional Inspector from the region. Also attended by various relevant departmental representatives. Through the discussion held today, the primary focus was promotion of Solar power Grid Connected pumps under KUSUM Scheme to prioritize groups of farmers under PACS (Primary Agriculture Credit Society).

Over the years, the Government of India has been encouraging our farmers to take up climate-smart technologies, and the PM KUSUM and PMKSY schemes launched earlier by the Hon’ble Prime Minister, Shri. Narender Modi, in support of the existing regional schemes like FSSM (Financial Support Scheme for Farm Mechanization) for West Bengal – provides a significant leverage and opportunity for a further scaling up the ongoing cooperative movement in the region and across India.

India’s first co-operative was founded in the late 1890s when farmers in western Maharashtra rebelled against the tyranny of agricultural credit lenders. Since the beginning of the 20th century, co-operatives have grown significantly in India. Now, India has more than 8 lakh registered cooperatives.

Globally, the co-operatives have been acknowledged as associations and enterprises through which citizens can effectively improve their lives while contributing to the economic, social, cultural and political advancement of their community and nation. Co-operatives’ open membership model affords access to wealth creation and poverty elimination. Because co-operatives are people-centered, not capital-centered , they do not perpetuate, nor accelerate capital concentration and they distribute wealth in a more fair way.

During the course of discussion at the event, it was observed that small and marginal farmers find subsidized products under the schemes inaccessible due to low savings and limited access to credit. Highlighting the role of financing as a critical factor for the success of the schemes in coming years. The discussion also included – points around some innovative business models and financing on climate-smart agriculture technologies and the Banker’s perspective on financing solar pumps and other climate-smart agriculture technologies like micro irrigation.

Speaking during the event, Vinay Jaju, MD SwitchON Foundation said “There is a critical need to bridge the existing knowledge gaps and generate a platform for the mutual exchange of ideas and discuss over financing of climate-smart agriculture technologies. SwitchON Foundation’s role as an important catalyst is to meet that need through consistent support and enriching the Cooperative movement in the nation”.

For Further Details,Contact : Mr. Surajit Chakraborty

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100th United Nation International Day of Cooperatives

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