Union Minister of Cooperation informed the Lok Sabha about the National Cooperative Exports Limited

National Cooperative Exports Limited

• It was set up by the Ministry of Cooperation under the Multi-State Cooperative Societies (MSCS) Act, 2002.
• It will provide a complete ecosystem for the promotion of exports mainly of agri commodities for the benefit of our farmers, in which India has a comparative advantage.
• All cooperative societies from the level of primary to apex that are interested in exports are eligible to become members.
• The NCEL has provision of two kinds of members namely

Ordinary Members: The following shall be eligible to become ordinary members of the NCEL:

• Any multi-state co-operative society or any co-operative society registered or deemed to be registered under any law relating to co-operative societies for the time being in force in any State or UT;
• The National Co-operative Development Corporation (NCDC) established under the National Co-operative Development Corporation Act,1 962 (26 of 1962);
• Such class or classes of persons or associations of persons as may be permitted by the Central Registrar having regard to the nature and activities of the Society.
• No individual shall be eligible to become an ordinary member of the NCEL.

Nominal or associate member:

• The society may, in the interest of the promotion of its business, admit any person, including cooperative banks, as a nominal member or associate member
• This society will focus on exporting the surpluses available in the Indian cooperative sector by accessing wider markets beyond the geographical contours of the country.

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Published date : 23 Dec 2023 10:41AM