National Cooperative Exports Limited

• Union Home Minister and Minister of Cooperation presided over the launch of the National Cooperative for Exports Limited (NCEL), a venture that marks the union of cooperative sectors in India’s export efforts.
• The event saw the unveiling of the NCEL logo, website, and brochure.

ABOUT NCEL

• NCEL, established as an umbrella organization for cooperative sector exports, was registered under the Multi-State Co-operative Societies Act, 2002, on January 25
• It has an authorised share capital of ₹2,000 crore and those cooperative societies from the level of primary to apex interested in exports are eligible to become its members.
  • NCEL has bagged orders of ₹7,000 crore so far.
• Its objectives include, increasing exports, making farmers prosperous, providing global market for organic products, gaining a place for India in the global market for biofuel etc.
• It aims to focus on exporting the surplus available in the Indian cooperative sector by accessing wider markets beyond the geographical contours of the country.
• There are about 8 lakh cooperative societies in the country with over 29 crore members.