(THE GIST OF PIB) National Cooperative Exports Limited

(THE GIST OF PIB) National Cooperative Exports Limited


National Cooperative Exports Limited

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

About the National Cooperative Exports Limited:

  • It was set up by the 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, 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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Courtesy: PIB