IFFCO or the Indian Farmers Fertilizers Cooperative keeps proving time and again that it is the largest fertilizer cooperative in India, and it has done so yet again. IFFCO has retained its “Rank 1” position among Fertilizer and Agro Chemicals industries in the nation in the Fortune 500 India rankings this year.
In addition to this, the firm stood at a decent 68th position among the overall rankings of Fortune 500 companies in India, thus keeping up with its tradition of bagging top positions in the list every year. IFFCO happens to be the only cooperative in India, to have made it to the top 100 list, a matter in which all co-operative societies associated with IFFCO take enormous pride.
Crowd’s Reaction
IFFCO’s MD, Dr. U S Awasthi, shared this happy news with the public via twitter. Dr. Awasthi’s tweet was met with a warm reaction as people showered heaps of congratulatory messages. Besides expressing their happiness, some even deemed themselves fortunate for getting to work with the organization, under the able leadership of IFFCO’s MD.
Fortune 500 Rankings
The list of Fortune 500 companies in India is compiled every year by Fortune magazine’s Indian edition, which ranks the top 500 of the largest corporations within the country. These rankings are based on various aspects such as innovativeness, financial security, use of corporate assets, long-term investments, as well as global competitiveness.
Other Achievements
There have been other instances than the above-mentioned that have aided in establishing the fact that, be it domestic or global platforms, IFFCO as an organization remains undeniably good. Recently the corporation was ranked first out of 300 global cooperatives in a report published by World Cooperative Monitor of International Cooperative Alliance.
IFFCO has been working towards ensuring food security in the country since the year 1967. The cooperative has established 5 huge plants across India and several global joint ventures such as KIT, Omifco, and JIFCO etc.
IFFCO also maintains a strong standing in International Fertilizer Association and a global board seat in International Cooperative Alliance. In the year 2017-18, IFFCO had an outcome of 84.79 lakhs MT fertilizers with a turnover of Rs. 20,788 crores.
