Why in the News?
- India is set to host the International Cooperative Alliance (ICA) Global Cooperative Conference in Delhi this month.
- It will mark the first time in the 130-year history of ICA that the ICA General Assembly and Global Cooperative Conference are being hosted in India.
About the International Cooperative Alliance (ICA):
| Details | |
| About | • Established in 1895 to unite, represent, and serve cooperatives globally. • Represents 315 cooperative federations and organizations from 107 countries. • Estimated to represent about 1 billion individuals worldwide across various sectors like agriculture, banking, fisheries, health, housing, insurance, and more. • It has held consultative status with the UN Economic and Social Council (ECOSOC) since 1946, making it the first NGO to receive this status. • Custodian of the internationally recognized definition, values, and principles of cooperatives. |
| Structure of ICA | • Governing Board: A 20-member board responsible for overseeing activities. • General Assembly: Highest governing authority, with representatives from member organizations, convened at least annually. • ICA is divided into four regional organizations:
• 8 sectoral organizations representing cooperatives in various sectors like agriculture, banking, fisheries, and more. |
| Powers and Functions of ICA | • Represents cooperatives in international forums, particularly within the United Nations and other multilateral organizations. • Influences international policies related to social and economic development and sustainable cooperative businesses. • Promote and define cooperative identity globally, ensuring cooperatives adhere to internationally recognized principles. • Collects and publishes data about the cooperative sector via reports like the World Cooperative Monitor and ICA Global 300 index. |
