NATIONAL COOPERATIVE EXPORTS LIMITED (Syllabus: GS Paper 3 – Economy)

News-CRUX-10     20th December 2023        
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Context: The Ministry of Cooperation recently informed the Parliament about the functioning of National Cooperative Exports Limited (NCEL).

National Cooperative Exports Limited (NCEL)

  • Formation: It is formed under the Multi-State Cooperative Societies (MSCS) Act, 2002.
  • Objective: To provide a complete ecosystem for the promotion of exports mainly of agri commodities for the benefit of our farmers, in which India has a comparative advantage.
  • Membership: All cooperative societies from the level of primary to apex, that are interested in exports, are eligible to become members. The NCEL has provision of two kinds of members, as per details given below:

oOrdinary Members:

üAny multi-state co-operative society or any co-operative society registered or deemed to be registered under any law relating to co-operative societies for the time being in force in any State or UT;

üThe National Co-operative Development Corporation (NCDC) established under the National Co-operative Development Corporation Act,1 962 (26 of 1962);

üSuch class or classes of persons or associations of persons as may be permitted by the Central Registrar having regard to the nature and activities of the Society.

üNo individual shall be eligible to become an ordinary member of the NCEL.

oNominal or associate member: The society may, in the interest of the promotion of its business, admit any person, including cooperative banks, as a nominal member or associate member in accordance with the provisions of the Multi-State Co-operative Societies Act on payment of a non-refundable fee of Rupees one lakh only.

  • Significance:

oIt will provide thrust to exports from cooperative sector by acting as an umbrella organization for carrying out and promoting exports.

oThis will help in unlocking export potential of Indian cooperatives in global markets, help cooperatives in getting benefits of various export related schemes and policies of different ministries of Government of India in a focused manner through ‘Whole of Government Approach.’

oThis will also help in achieving the goal of “Sahkar-se-Samriddhi” through the inclusive growth model of cooperatives.

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