Inaugurating the pilot project of the world’s largest grain storage plan in the cooperative sector in Primary Agricultural Credit Societies (PACSs) of 11 states, Prime Minister Narendra Modi on Saturday said the cooperative sector is instrumental in shaping a resilient economy and propelling the development of rural areas.

“Cooperatives have the potential to convert an ordinary system related to daily life into a huge industry system, and is a proven way of changing the face of the rural and agricultural economy,” he said at a function on the occasion at Bharat Mandapam here.

The PM also laid the foundation stone for additional 500 PACS across the country for construction of godowns and other agri infrastructure under the initiative which aims to seamlessly integrate PACS godowns with the food grain supply chain, fortifying food security and fostering economic development in the country with a collaborative effort supported by NABARD and spearheaded by the National Cooperative Development Corporation (NCDC).

Mr Modi also inaugurated a project for computerisation in 18,000 PACS across the country, aligning with the government’s vision of “Sahakar se Samridhi” aimed at rejuvenating the cooperative sector and empowering small and marginal farmers.

The PM said the power of cooperation has a huge role in strengthening the foundation of agriculture and farming and this has led to the creation of a separate Ministry for Cooperation.

He said that the world’s largest grain storage plan in the cooperative sector launched today will result in thousands of warehouses and godowns in every corner of the country.

This and other projects like computerisation of PACS will give a new dimension to agriculture and modernise farming in the country.

He underlined that cooperatives are an ancient concept for India. Quoting a scripture, he explained that a large task can be accomplished if smaller resources are put together and said that this model was followed in the ancient system of villages in India.

“Cooperatives were the foundations of India’s atmanirbhar society. It is not just any system, but a belief, a spirit,” the PM remarked, highlighting that this spirit of cooperatives is beyond the boundaries of systems and resources and produces exceptional results. It has the potential to convert an ordinary system related to daily life into a huge industrious system, and a proven result of the changing face of the rural and agricultural economy. Through this new ministry, the PM emphasised, the government aims to bring together the fragmented powers of the agricultural sector of India

Giving the example of Farmers Producers Organisation (FPOs), he noted the growing entrepreneurship among the small farmers in villages.

He said that due to having a separate ministry, 8000 FPOs out of a target of 10,000 FPOs are already functional in the country. The benefits of cooperatives are now reaching fishermen and pushupalaks also.

More than 25,000 cooperative units are functional in the fishery sector. The PM reiterated the government’s goal of establishing 200,000 cooperative societies in the coming years.

The PM underlined that cooperatives have the potential to tackle the personal issues of farmers with collective strength and gave the example of storage. Pointing out the losses incurred by farmers due to lack of storage infrastructure, he drew attention to the world’s largest storage plan of 700 lakh metric tonnes initiated by the government and to be completed in the next five years at a cost of Rs 1.25 lakh crores.

He said that it would enable farmers to store their produce and sell it at the right time according to their own needs while also helping to avail loans from banks.

“Modernisation of agricultural systems is equally important for the creation of a Viksit Bharat”, the PM said, highlighting the government’s endeavour to create a new role for government organisations such as PACS.

Mr Modi outlined the importance of cooperative institutions in the journey of Viksit Bharat. He asked them to contribute towards the goals of Aatmnirbhar Bharat. “Viksit Bharat is not possible without an Aatmanirbhar Bharat ,” the PM stressed.