Importance of Cooperatives in India

Significance

• Employment: Cooperative societies create employment opportunities, and majority of these cooperatives are workers’ cooperatives. This means that the cooperative members are also the workers in their own cooperatives.
• Community Development: Cooperatives are understood as one of the vehicles to achieve community development goals. Cooperatives are important vehicles for community development because they mobilize local resources into a critical mass and their structure allows them to be more community-oriented.
• Economic Vehicles: Cooperatives are viable economic vehicles for local people to work together in order to improve socioeconomic conditions in their communities.
• Poverty Reduction & Social Protection: Cooperatives generate income and increase the ....