IFFCO bags highest tax payer award; MD bucks up team
−− Earlier, IFFCO has been ranked first among Top 300 global Cooperatives
Feb. 1, 2021
IFFCO has brought laurels to the co-op sector once again by receiving highest tax payer award, which was given by the customs department at Deendayal Port Trust Kandla, Gujarat. The award contained a Citation Plaque.
It was presented to Shri O P Dayama, Sr. GM (Plant Head, IFFCO Kandla) by Shri S.K. Mehta, IFoS, Chairman, Deendayal Port Trust, Dr. Amiya Chandra, ITS, Development Commissioner, KASEZ and Shri T.V. Ravi, IRS, Commissioner of Customs (Kandla & Mundra) on the occasion of International Customs Day celebrated on 27th January 2021 at Gandhidham, Gujarat.
In a press release sent to Indian Cooperative by media head Harshendra Verdhan he says “IFFCO, world’s leading Fertilizer Cooperative got the highest tax payer award at Deendayal Port Trust Kandla, Gujarat by the Customs Department. The award has again shown IFFCO’s contribution to the growth & development of economic growth of our country. A Proud moment for everyone at IFFCO & Indian Cooperative Movement.
Lauding the team IFFCO MD Dr U S Awasthi tweeted, “#IFFCO awarded as Highest Tax Payer of Kandla Customs for FY19-20.Award presented by Sh. S.K. Mehta, IFoS, Chairman, Deendayal Port Trust, Dr. Amiya Chandra, ITS, Devp. Commissioner, KASEZ & Sh. T.V. Ravi, IRS, Customs Commissioner (Kandla & Mundra) on International Customs Day”.
Earlier, IFFCO has been ranked first among Top 300 global Cooperatives as per ratio of turnover over Gross Domestic Product (GDP). This report published by ICA and European Research Institute on Cooperative and Social Enterprises (Eurocise) clearly indicates that IFFCO is contributing immensely in the GDP and overall economy of the Nation.
Besides, this year’s Fortune India 500 Edition for the year 2020 has also ranked IFFCO in 57th position amongst the Top 500 Indian companies. IFFCO has moved one position up as of it’s last year position.
Indian Farmers Fertiliser Cooperative Ltd. (IFFCO) is the largest Fertilizer manufacturer and marketer in the Indian Subcontinent region. IFFCO has a turnover of Rs 29,412 Crores. Also, IFFCO has a global group turnover of Rs 57,778 Crores.
IFFCO is one of the world’s largest cooperative societies and is wholly owned by Indian cooperatives engaged in the manufacture, sale and distribution of fertilizers.
Founded in 1967 with just 57 cooperatives, it is an amalgamation of over 35,000 cooperatives today, with diversified business interests ranging from general insurance to food processing and presence in Oman, Jordan, Dubai and Senegal. With 5 fertilizer manufacturing facilities in India and an extensive pan-India marketing network every third bag of Phosphatic fertilizers and every fifth bag of Urea marketed in India is handled by IFFCO.
During 2019-20, IFFCO produced 9.14 million tonnes of fertilizer and sold approximately 13.33 million tonnes to Indian farmers. IFFCO has always been in inclusive and holistic development of the Indian farming community and Indian agriculture by its inclusive business model involving the cooperatives of the country.
Its several development initiatives like CORDET, IFFDC and IKST work specifically in this direction. IFFCO has also invested in food processing & organics, claims the release.
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