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Kerala cooperative secures second place in world sectoral rating


: World Co-operative Monitor, printed by the Worldwide Cooperative Alliance, has honoured a major stage labour cooperative in .

Vadakara-based Uralungal Labour Contract Cooperative Society (ULCCS) has been ranked second within the listing of Trade and Utilities Cooperatives within the sectoral rankings, for the third consecutive 12 months, an announcement mentioned right here.

ULCCS has been named just under the Spain-based Company Mondragon.

This rating is predicated on the ratio of turnover over gross home product (GDP) per capita. ULCCS bagged the identical place in 2018 and 2019, it mentioned. The Trade and Utilities part consists of cooperatives working in industrial sectors except the meals trade in addition to these whose financial exercise offers with utilities. It consists of employee cooperatives within the development sector and customers’ cooperatives within the utilities sector, that’s, cooperatives that are lively within the administration of infrastructure for a public service.

4 cooperatives from India- IFFCO, GCMMF, Kribhco and ULCCS- determine within the sectorial report, the assertion added, Uralungal Labour Contract Co-operative Society obtained membership to the Worldwide Cooperative Alliance in 2019.

The World Cooperative Monitor, a challenge designed to gather sturdy financial, organizational, and social information about cooperatives worldwide, is the one report of its variety gathering annual quantitative information on the worldwide cooperative motion.

A major cooperative launched in 1925 in a rural hamlet, Uralungal Labour Contract Cooperative Society (ULCCS) started with 14 members and a capital of 6 Annas (previous Indian foreign money) equal to about Rs. 0.37.

Contemplating the meritorious service efficiency of the Society, the Authorities of appointed ULCCS as an Accredited Company in numerous departments for execution of tasks with out tender process, the assertion added.

(Solely the headline and film of this report could have been reworked by the Enterprise Normal employees; the remainder of the content material is auto-generated from a syndicated feed.)

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