2 lakh new cooperatives planned nationwide to boost jobs: IFFCO chief Dileep Sanghani

Surat | Gujarat — A massive expansion of India’s cooperative sector is on the horizon, with plans underway to establish nearly two lakh new cooperative societies across the country to generate employment and strengthen rural economies.

The announcement was made by Dileep Sanghani during the Cooperative Conclave 2026 organised by the Southern Gujarat Chamber of Commerce and Industry (SGCCI) at the SIECC Sarsana in Surat on Thursday.

Addressing industry leaders and cooperative sector representatives, Sanghani said the government has conducted extensive surveys from village to district and state levels to identify opportunities for expanding cooperative institutions.

“Based on the data collected across the country, the government is moving forward with a plan to establish around two lakh new cooperative societies,” Sanghani said. “This initiative will create large-scale employment opportunities and strengthen the rural economy.”

Cooperatives for ex-servicemen in Jammu & Kashmir

Sanghani also proposed forming cooperatives of ex-servicemen in regions where agricultural or industrial production is currently limited. He specifically mentioned Jammu and Kashmir as an area where such initiatives could be implemented with a positive approach.

“There are many regions where production activities are limited. By forming cooperatives of ex-servicemen, we can utilise available land and generate economic activity in these areas,” he said.

Strengthening industry–cooperative partnerships

SGCCI president Nikhil Madrasi highlighted the critical role cooperatives and credit societies play in India’s economy, particularly in supporting small entrepreneurs.

“Even during the COVID-19 crisis, cooperative banks in Surat remained financially strong and served as a backbone for the middle class,” Madrasi said. “The objective of this conclave is to further develop the cooperative sector and strengthen coordination with industries.”

Call for transparency and youth participation

Sanghani also emphasised the need to modernise cooperatives through technology, transparency and greater youth participation.

“India’s cooperative sector is a unique model at the global level and plays an important role in empowering farmers and small entrepreneurs,” he said.

Meanwhile, Dr. Jivraj Godhani stressed the importance of cooperative credit societies in providing affordable financial services to small traders and ordinary citizens.