Kerala cooperative society secures 2nd position in global Industry and Utilities Cooperatives ranking

This ranking is based on the ratio of turnover over the gross domestic product (GDP) per capita. ULCCS bagged the same position in 2018 and 2019, it said.

The Industry and Utilities section includes cooperatives operating in industrial sectors with the exception of the food industry as well as those whose economic activity deals with utilities.

It includes worker cooperatives in the construction sector and users’ cooperatives in the utility sector, that is, cooperatives which are active in the management of infrastructure for public service.

Four cooperatives from India- IFFCO, GCMMF, Kribhco and ULCCS- figure in the sectorial report, the statement added,

Uralungal Labour Contract Co-operative Society received membership to the International Cooperative Alliance in 2019.

Also read: RBI annual report: Kerala tops in daily wages of workers

The World Cooperative Monitor, a project designed to collect robust economic, organizational, and social data about cooperatives worldwide, is the only report of its kind collecting annual quantitative data on the global cooperative movement.

A primary cooperative launched in 1925 in a rural hamlet, the Uralungal Labour Contract Cooperative Society (ULCCS) began with 14 members and a capital of 6 Annas (old Indian currency) equivalent to about ₹0.37.

Considering the meritorious service performance of the Society, the Government of Kerala appointed ULCCS as an Accredited Agency in various departments for the execution of projects without tender procedure, the statement added.

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