Reconstructing, Redefining and Revisiting Role and Relevance of Cooperative Society in Contemporary India: An Analysis

Abstract

It has been rightly articulated by our Prime Minister with regard to the culture and practice of cooperatives in India that the cooperation has always been a part and parcel of our diverse and prosperous Indian heritage. The concept of cooperative society is not at all new for the old generation Indians. As the cooperation phenomenon has been a living experience in our society since the inception and emergence of our society. The concept of cooperative is deeply implanted across diverse cultures and customs of Indian society. Thus, cooperation runs in the bloods of Indians. However, the advent of information and communication technology has adversely affected the culture and practice of cooperation across Indian society. Therefore, the concept of cooperation in our contemporary society is on the verge of extinction on account of ongoing and gradual shift of society from collective caring to nucleus nurturing. The change in the mindset of current generation determines problems and prospects on the way to growth and development in cooperative societies. The concept of cooperative is a humane, inclusive, multidimensional, and symbiotic phenomenon. This concept emerged across the globe as an effective mechanism to deal with rampant exploitations, injustices, and unfair and unethical dealings by economically and socially dominant sections of the society. Thus, it is an instrument of marginalized and weaker sections of the society to deal with exploitations and oppressions led by the capitalist class or rich section of the society. The concept of cooperative society is more than the concept of community owned enterprise. As cooperatives aim at inclusive and sustainable development by encouraging self-reliance, economic independence, and service motive via decentralization and democratic control. This article is an attempt to analyze the underlying objectives and elements of cooperatives to develop insights into the future prospects and problems of cooperatives in contemporary Indian society.