India’s Cooperative Sector to Generate Over 11 Crore Jobs by 2030

India's cooperatives may add over 11 crore jobs by 2030

India's cooperative sector is set to play a transformative role in the nation’s employment landscape, with the potential to create 5.5 crore direct jobs and 5.6 crore self-employment opportunities by 2030, according to a report by management consultancy firm Primus Partners.

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Steady Employment Growth

The Indian Cooperative Movement report highlights the sector’s impressive progress, with jobs increasing from 1.2 million in 2007-08 to 5.8 million in 2016-17—a staggering 18.9% annual growth rate. This trend underscores the sector’s ability to provide stable employment while driving inclusive economic development.

Catalyst for Self-Employment

Cooperatives have also emerged as a major driver of self-employment. Opportunities doubled from 15.47 million in 2006-07 to 30 million by 2018. With an annual growth rate of 5-6%, the sector is projected to generate 56 million self-employment opportunities by 2030, creating new pathways for income generation in rural and semi-urban areas.

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Boost to GDP

By 2030, the cooperative sector is expected to directly contribute 3-5% to India’s GDP. Including the impact of self-employment, this contribution could exceed 10%, reinforcing the sector’s critical role in agriculture, rural industries, and small enterprises.

Policy Support and Modernization

The creation of the Ministry of Cooperation in 2021 marked a turning point for the sector. Focused on modernizing governance, streamlining policies, and promoting cooperative enterprises, the ministry is addressing key challenges like funding and sustainability. India’s 8.5 lakh cooperative societies, with 29 crore members, require robust policy frameworks to ensure autonomy, self-reliance, and democratic management.

Looking Ahead

The cooperative sector is well-positioned to be a cornerstone of India’s economic growth. With the right interventions, it could create over 11 crore employment opportunities and contribute significantly to GDP, fostering a more inclusive and sustainable economy.

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