FFCO Full Form: Indian Farmers Fertilizer Cooperative Limited
Indian Farmer’s Fertiliser Cooperative Limited is a cooperative society functional over many states headquartered in New Delhi. The co-op works in multiple states and has a very good turnover. It is today the biggest co-op in the world with the highest GDP per capita. It reaches more than 50 million Indian farmers, providing them the benefits of fertilizers.
IFFCO Full Form: Indian Farmer Fertilisers Cooperation
As of 2017, the cooperative was ranked 66th on the Fortune India 500 list. The cooperative has a net worth of $2.3 billion as of March 2018.
The food crisis of the 1960s mobilized the farmers. Indians started looking for long-term solutions. International organizations carried out fertilizer feasibility tests in the country. Back at that time, 70% of the chemical fertilizers were being distributed by the cooperative sector only. This sector only had enough infrastructure to distribute but none to manufacture.
IFFCO full form in Hindi:इंडियन फार्मर्स फर्टिलाइजर कोआपरेटिव लिमिटेड
Multi-agency approach was introduced by the Government of India in 1967 which lured many private companies to enter the fertilizer sector. Due to this, the cooperative sector lost its strong foothold in the industry. The company was started in 1967 with only 57 member cooperatives. It was set up in collaboration with American cooperative societies. It was a multi-unit cooperative with ammonia, urea and NPK plants set up notably at Kalol and Kandla in Gujarat. The Kalol and Kandla plants were built indigenously with great innovations.
In the 1980s two more plants were commissioned at Phulpur and Aonla in Uttar Pradesh. Company’s founding managing director received a Padma Shri award for his efforts towards reviving Indian agriculture. Soon the cooperative became a stakeholder of Industries Chimiques Du Senegal (ICS). Becoming Senegal’s largest industrial venture producing phosphoric acid.
Soon all the plants were striving for better outputs. In the 1990s these efforts were showing up. Being the decade of bigger and greater changes, it saw the rise of the cooperative on the whole. The plants were expanded and quality was improved, production increased.
IFFCO started diversifying its business, expanding its realm to General insurance, rural telephony, international trading, pesticides and even rural e-commerce. This farsightedness reaped the cooperative big profits.
In the new century, 2000s IFFCO saw a new dawn expanding itself as an autonomous cooperative making name in India as well as abroad. Tokyo, Oman, Dubai, and Jordan are a few of the countries which witnessed this rise. By the 2010s IFFCO had expanded, diversified and profited big numbers.
The cooperative was seen acquiring others as well. The cooperative has been working towards cleaner industry and reducing its carbon footprint. IFFCO has collaborated with Mitsubishi Corporation, Japan to provide quality in Indian agrochemicals. IFFCO came up with a unique idea of E-mandi for the new retail customers.
IFFCO has been rising through bounds and leaps since its inception.
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