By Union Home and Cooperation Minister Amit Shah has announced that the Centre is preparing to establish a cooperative life insurance company, describing it as the next major step in expanding India’s cooperative movement. The proposed insurer is expected to provide financial security to cooperative members while strengthening institutions operating under the cooperative model across the country.
Speaking at the fifth Foundation Day celebrations of the Ministry of Cooperation, Shah said the ministry has worked over the past five years to modernise and diversify the cooperative sector. He added that cooperatives are no longer limited to traditional areas such as dairy, sugar and fertilisers but are steadily expanding into new sectors of the economy.
Highlighting the ministry’s achievements, Shah said India today has nearly 8.5 lakh cooperative societies with more than 30 crore members, making it one of the world’s largest cooperative networks. He noted that the government has focused on improving transparency, professional management and digital governance to make these institutions more efficient and sustainable.
The minister said a comprehensive national database of cooperative societies has been created, enabling better planning and policy implementation. He also pointed to the establishment of Tribhuvan Sahkari University in Anand, Gujarat, which is expected to develop skilled professionals and strengthen human resources for the cooperative ecosystem.
Shah also referred to the growth of Bharat Taxi, a cooperative-based ride-hailing platform, saying it has shown encouraging progress since its launch. According to him, the service is expected to expand to 500 cities over the next two years, reflecting the government’s efforts to introduce cooperative models into emerging business sectors.
Addressing concerns that were raised when the Ministry of Cooperation was created, Shah said fears about the Centre interfering in state matters had proved unfounded. He maintained that the ministry’s role is limited to policy formulation and strengthening the cooperative framework, adding that even states governed by opposition parties have not raised complaints about central interference.
The event also witnessed the launch and foundation laying of several infrastructure projects aimed at strengthening the cooperative sector. These included the inauguration and construction of grain storage facilities across different states, initiatives to improve agricultural infrastructure, and projects related to seed production and cooperative forestry.
A key milestone announced during the programme was the digital transformation of 50,000 Primary Agriculture Cooperative Societies (PACS) into e-PACS, a move expected to improve service delivery and operational efficiency at the grassroots level. An agreement was also signed between the Bharatiya Beej Sahakari Samiti Limited (BBSSL) and the Indian Council of Agricultural Research (ICAR) to enhance India’s seed production system.
Shah also released a set of model bylaws for dairy cooperative societies and a publication outlining the Ministry of Cooperation’s work over the past five years. He said the government’s objective is to build a stronger, technology-driven and self-reliant cooperative sector that contributes significantly to India’s economic development.
