Union HM Amit Shah Announces Cooperative Life Insurance Company, Bharat Taxi Expansion To 500 Cities

Union Cooperation Minister Amit Shah on Monday announced that the government will set up a cooperative life insurance company to widen the scope of cooperative businesses. He also said the cooperative ride-hailing platform Bharat Taxi will expand its services to 500 cities over the next two years.

Visit likesport.biz for more information.

Speaking at the fifth Foundation Day celebrations of the Ministry of Cooperation in New Delhi, Shah said the ministry has brought new momentum to India’s cooperative movement, which he described as a sector that had remained neglected for years. He said the government's focus has been on making cooperatives more transparent, technology-driven, competitive and professionally managed.

Cooperatives move beyond traditional sectors

The proposed life insurance company marks another attempt to expand cooperatives beyond their traditional presence in dairy, sugar, fertilisers and banking. Shah said the new insurer would help strengthen the cooperative sector’s presence in the insurance business. He pointed out that fertiliser cooperative IFFCO already has a presence in the sector through its joint venture, IFFCO-TOKIO.

On Bharat Taxi, Shah said the platform has performed well since its launch under the cooperative model and will be available in 500 cities within two years. Operated by Sahakar Taxi Cooperative Ltd, the platform currently has 6.37 lakh registered drivers and 35.77 lakh registered customers. It is operational in Delhi-NCR, Gujarat, Lucknow, Chandigarh, Mumbai, Jaipur and Kanpur, and will soon be launched in Ranchi, Patna, Guwahati, Bhopal, Kolkata, Indore and Nagpur, PTI reports.

Professional management at the core

Shah said the government wants to bring greater professionalism into the cooperative sector by ensuring appointments are made purely on merit. He stressed that eliminating corruption in recruitment would improve efficiency and help restore public confidence in cooperative institutions.

To support this effort, Shah said Tribhuvan Sahkari University is being established in Anand, Gujarat, to train professionals in banking, dairy, marketing, agriculture, fertilisers and other cooperative sectors. These trained professionals will be appointed in cooperative institutions in a phased manner, from primary societies to top-level organisations.

Government highlights five years of reforms

The minister said the Ministry of Cooperation has identified both challenges and opportunities in the sector over the past five years and has created a national database of cooperatives to help bridge gaps and expand their reach. India currently has around 8.5 lakh cooperatives with more than 30 crore members.

He also said a national cooperative dedicated to seed production has been established and expressed confidence that it would become the country’s largest non-governmental seed production organisation within three years.

PACS expansion gathers pace

Highlighting reforms at the grassroots level, Shah said all states have adopted model bye-laws allowing Primary Agricultural Credit Societies (PACS) to undertake more than 25 business activities. As a result, PACS are now involved not only in credit but also in retail, storage, healthcare, fuel and digital services.

According to the official statement, 394 PACS have applied to operate retail fuel outlets, of which three have already been commissioned. More than 54,000 PACS are functioning as Common Service Centres, while 4,248 have been approved as Jan Aushadhi Kendras.

Infrastructure projects and policy push

During the event, Shah laid the foundation stone and inaugurated several cooperative infrastructure projects. These included the transfer of 135 grain storage godowns with a combined capacity of 75,000 tonnes, the inauguration of 85 godowns and the virtual foundation laying for 47 additional grain storage facilities.

PM Narendra Modi Embarks On Indonesia, Australia & New Zealand Tour To Strengthen Act East Policy, MAHASAGAR Vision & Indo-Pacific Ties | Video

Groundbreaking ceremonies were also held for Sahakar Van, an initiative by Amul and NCCF, and for tissue culture facilities of Bharatiya Beej Sahakari Samiti Ltd (BBSSL) in Barabanki, Uttar Pradesh, and Jalgaon, Maharashtra. Another key announcement was the conversion of 50,000 PACS into e-PACS. A Memorandum of Understanding was also signed between BBSSL and the Indian Council of Agricultural Research (ICAR) to strengthen the country’s seed systems.

Cooperative sector’s larger role

Responding to concerns that the Union Ministry of Cooperation could interfere in subjects handled by states, Shah said no state, including those governed by the Congress, had raised such complaints in the ministry's first five years. He maintained that the ministry’s role is limited to policy-making and supporting states rather than interfering in their functioning.

Expressing confidence in the future of the sector, Shah said cooperatives would play a significant role in achieving the goal of a developed India by 2047. He also said the NDA and BJP governments have consistently focused on rural development and welfare of the poor, adding that the creation of new ministries reflects that commitment.

Read full story at source