“IFFCO ranked Number 1 Cooperative in the world among top 300 Cooperatives. Proud moment for IFFCO as it topped the “World Cooperative Monitor” List of Turnover/GDP per Capita,” tweeted U S Awasthi, Managing Director & CEO, IFFCO.

Indian Farmers Fertiliser Cooperative Limited (IFFCO) has jumped to 65th position in overall turnover ranking from 125th position in last financial year and now is at the top rank among 300 leading cooperatives in the world, according to an official release.

“In the Top 300 based on the ratio of turnover over gross domestic product (GDP) per capita ranking - which relates the turnover of the enterprise to the wealth of the country - two Indian producer cooperatives achieved the first and second positions: IFFCO and Gujarat Cooperative Milk Marketing Federation Limited,” the release issued by International Cooperative Alliance (ICA) said.

The ranking is based on the ratio of turnover over the gross domestic product (GDP) per capita.

"It signifies that IFFCO is contributing significantly to the GDP and economic growth of the Nation. It relates the turnover of the enterprise to the wealth of the country according to the 2020 edition of the 9th Annual World Cooperative Monitor (WCM) report published by International Cooperative Alliance (ICA)," IFFCO said.

IFFCO with more than 36,000 member cooperatives and a group turnover of nearly 7 billion dollars, it is amongst the biggest cooperative institutions in the world, it said.