Labour cooperative in Kerala honoured by International Cooperative Alliance in its World Co-operative Monitor, the news agency PTI reported.
Uralungal labour contract cooperative society (ULCCS), based in Vadakara, Kerala, secured the second position in the list of Industry and Utilities Cooperatives in the sectoral rankings. According to the statement, ULCCS maintained its place for the third consecutive year.
The positions are based on the turnover ratio over the gross domestic product (GDP) per capita. The industry utilities include cooperatives operating in industrial sectors with the exception of the food industry as well as those whose economic activity deals with utilities. I have worker cooperatives in the construction sector and users' cooperatives in the utility sector, that is, cooperatives that are active in managing infrastructure for public service.ULCCS has been named just below the Spain-based Corporation Mondragon.
According to the statement, Four cooperatives from India- IFFCO, GCMMF, Kribhco, and ULCCS- figure in the sectorial report. ULCCS also received membership to the International Cooperative Alliance in 2019.
What is The World Cooperative Monitor?
The World Cooperative Monitor is a project designed to collect robust economic, organisational, and social data about cooperatives worldwide; it is the only report collecting annual quantitative data on the global cooperative movement.
A primary cooperative launched in 1925 in a rural hamlet (ULCCS) began with 14 members and a capital of 6 Annas (old Indian currency), equivalent to about Rs. 0.37.
Considering the admirable 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.