Balvinder Singh Nakai from Punjab elected as new Chairman of IFFCO
Balvinder Singh Nakai, who is the current Chairman of Malwa Fruit and Vegetable Cooperative Marketing-cum-Procurement Society Limited, has earlier served as Vice Chairman of IFFCO for two terms
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Spanish firm's Rs 550-cr quick freezer plant to come up in LudhianaIndian Farmers Fertiliser Cooperative Limited (IFFCO) held its 48th Annual General Body meeting in New Delhi today, and elected Balvinder Singh Nakai from Punjab as new Chairman, and Dileep Sanghani from Gujarat as Vice Chairman. The IFFCO meet, one of the biggest congregation of co-operators in India, witnessed the participation of delegates from across the country, said an IFFCO statement.
Besides the 48th AGM, the election of 21 directors also took place peacefully in a democratic and transparent way after the meeting, it said, adding that these directors voted for the election of Chairman and Vice Chairman of IFFCO. Notably, the directors were elected by around 35,000 member cooperative societies of the IFFCO.
The new IFFCO chairman, Balvinder Singh Nakai, is an eminent farmer- co-operator who has been deeply involved with Cooperative Movement of the country for the last three decades. Nakai, who is the current Chairman of Malwa Fruit and Vegetable Cooperative Marketing-cum-Procurement Society Limited, has earlier served as Vice Chairman of IFFCO for two terms. Since Nakai is himself a farmer, he has been instrumental in formulating farmers oriented policies of IFFCO.
Notably, Dileep Sanghani is the Chairman of Gujarat State Cooperative Marketing Federation Limited.
With a turnover of Rs 27852 crore in FY 2018-19, IFFCO is one of the biggest cooperatives in the world. with IFFCO produces produced 81.49 Lakh MT of fertilisers with its five states of the art fertiliser manufacturing plants in India. The inclusive business model of IFFCO reaches to over 5.5 crore farmers in India.
IFFCO also contributes to around 36% of Phosphatic and 21% of Nitrogenous fertilisers produced in the country and was ranked first amongst the top 300 cooperatives in the world by the World Cooperative Monitor report.
Besides Fertilisers, IFFCO has also diversified into sectors like General Insurance, Rural Mobile telephony, Oil and Gas and international trading among others.
