National Cooperative Exports Limited (NCEL)

Context:

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

Relevance:

GS III: Indian Economy

Dimensions of the Article:

1. About the National Cooperative Exports Limited (NCEL)
2. Types of Members

About the National Cooperative Exports Limited (NCEL):

• Establishment:
  • Set up by the Ministry of Cooperation under the Multi-State Cooperative Societies (MSCS) Act, 2002.
• Objective:
  • Aims to provide a complete ecosystem for promoting exports, particularly of agricultural commodities, to benefit Indian farmers, leveraging the country’s comparative advantage.
• Membership Eligibility:
  • All cooperative societies from the primary to apex levels interested in exports are eligible to become members.
• Export Focus:
  • NCEL concentrates on exporting surpluses available in the Indian cooperative sector by accessing markets beyond the country’s geographical boundaries.

Types of Members:

Ordinary Members:

• Eligible entities include multi-state cooperative societies, cooperative societies registered or deemed to be registered under state or UT laws, and the National Co-operative Development Corporation (NCDC).
• Persons or associations may be permitted by the Central Registrar based on the society’s nature and activities.
• Individual membership is not allowed.

Nominal or Associate Member:

• The society may admit individuals, including cooperative banks, as nominal or associate members in the interest of business promotion.

-Source: The Hindu, PIB