Union Cabinet on Wednesday approved setting up and promoting a national-level multistate cooperative export society under the Multi-State Cooperative Societies (MSCS) Act, 2002 aimed at providing thrust to exports from the cooperative sector by acting as an umbrella organisation for carrying out and promoting exports.
The move will help to unlock the export potential of Indian cooperatives in global markets, said a Ministry of Cooperation statement followed by the Cabinet meeting chaired by Prime Minister Narendra Modi. The multistate cooperative export society will be set up with support from relevant Ministries especially the Ministry of External Affairs and Department of Commerce, Ministry of Commerce and Industry through their export-related policies, schemes and agencies by following the ‘Whole of Government Approach’ for undertaking exports of all goods and services produced by cooperatives and related entities.
The proposed society will provide thrust to exports from the cooperative sector by acting as an umbrella organisation for carrying out and promoting exports.
