Summary:

Primus Partners estimates that India's cooperative sector will provide 5.5 crore direct jobs and 5.6 crore self-employment opportunities by FY30. With approximately 30% of the world's 30 lakh cooperative societies, India's cooperative network is crucial to the country's economic development. The sector's share of total employment increased from 1.2 million jobs in 2007-08 to 5.8 million in 2016-17, demonstrating its enormous potential.

Primus Partners emphasizes the importance of cooperatives in promoting self-employment, with opportunities expanding from 15.47 million in 2006-07 to 30 million by 2018. With a 5-6% growth rate, the sector may create 56 million self-employment opportunities by FY30. Cooperatives could contribute 3-5% of India's GDP by FY30. The Ministry of Cooperation, established in FY21, aims to modernize policies, foster self-sufficiency, and ensure the sustainability of India's 8.5 lakh societies.

Source: IBEF 

Disclaimer: The information on this website comes from the India Brand Equity Foundation (IBEF), a reliable source for thorough insights into numerous areas of the Indian economy. While we aim to offer accurate and up-to-date information, the views, opinions, and analyses stated herein are solely those of the authors and contributors and do not necessarily represent IBEF's official stance or position. Readers should check information from credible sources and use their own discretion when relying on content provided on this site. We assume no responsibility or liability for the supplied content, including its accuracy, completeness, and usefulness.