Unleashing Potential: India's Cooperative Sector as a Job Creation Powerhouse by 2030

Primus Partners' report highlights India's cooperative sector's capacity to generate 5.5 crore direct jobs and 5.6 crore self-employment opportunities by 2030. With the world's largest cooperative network, this sector could significantly boost India's GDP, supporting economic growth and inclusive development amid the country's USD 5 trillion economy goal.

India's cooperative sector is poised to create a substantial impact on the job market, with the potential to generate up to 5.5 crore direct jobs and 5.6 crore self-employment opportunities by 2030, according to a report by management consultancy firm Primus Partners.

The report underscores India's prominent status within the global cooperative landscape, representing nearly 30% of the world's 30 lakh cooperative societies. As India aims to establish itself as a USD 5 trillion economy by 2030, the cooperative sector emerges as a vital enabler of economic growth and social equity.

Cooperatives have shown remarkable growth in employment contribution, moving from 1.2 million jobs in 2007-08 to 5.8 million in 2016-17. With a Ministry of Cooperation established in 2021, the sector is on track for modernization and policy reform, crucial for sustaining this momentum.

(With inputs from agencies.)