National Cooperative Development Corporation Current Affairs - 2019

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1st-ever India International Cooperatives Trade Fair to be held in India

The First Ever India International Cooperatives Trade Fair (IICTF) will be held at Pragati Maidan in New Delhi. It scheduled from 11th till 13th October 2019. It is a unique initiative for taking farmers, artisans & other members of cooperatives directly to global trade arena.

Key Highlights

Objective: Trade Fair is aimed at promoting cooperative to cooperative trade within India and abroad leading to enhanced rural and farm prosperity.

Organizations Involved: Steered by National Cooperative Development Corporation (NCDC), the Fair is being conducted with support of one international organization NEDAC (Network for the Development of Agricultural Cooperatives), 3 Ministries, 4 State Governments and several apex level Indian cooperative organizations.

This initiative is a part of Agriculture Export Policy 2018 which aims at doubling agriculture export and integrating Indian farmers and agriculture products with global value chains.

Significance:

IICTF would be a major platform for promoting exports by cooperatives so that it direct benefit to farmers, women, artisans and people coming from Schedule Caste/Schedule Tribe communities can be ensured.

It also offers a huge opportunity for industry and business houses from India and abroad to build alliances, product sourcing as well as interact with primary producers of a wide range of products and service providers.

Month: Categories: Events & Observances

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Government launches Yuva Sahakar-Cooperative Enterprise Support and Innovation Scheme

Union Minister of Agriculture and Farmers’ Welfare Radha Mohan Singh launched Yuva Sahakar-Cooperative Enterprise Support and Innovation Scheme of National Cooperative Development Corporation (NCDC). It isyouth-friendly scheme aimed at attracting youth to cooperative business ventures.

Yuva Sahakar-Cooperative Enterprise Support and Innovation Scheme

The scheme is linked to Rs 1000 crore ‘Cooperative Start-up and Innovation Fund (CSIF)’ created by the NCDC. It aims to encourage cooperatives to venture into new and innovative areas. It envisages 2% less than applicable rate of interest on term loan for the project cost up to Rs 3 crore including 2 years moratorium on payment of principal. All types of cooperatives in operation for at least one year are eligible to avail of the scheme.

Under it more incentives will be provided for cooperatives of North Eastern region, Aspirational Districts and cooperatives with women or SC or ST members. The funding for the project under this scheme will be up to 80% of the project cost for these special categories against 70% for others

Month: Categories: Government Schemes & Projects

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