In November 2025, The Gujarat Cooperative Milk Marketing Federation Ltd (GCMMF), marketed under the Amul brand, has been ranked as the world’s No. 1 cooperative based on GDP per capita performance in the International Cooperative Alliance (ICA) World Cooperative Monitor 2025.
- This prestigious ranking was announced during the ICA Cooperative Milestones 50 (CM50) Conference held in Doha, Qatar, acknowledging Amul’s transformational role in inclusive growth, rural development, and cooperative governance.
Exam Hints:
- What? ICA World Cooperative Monitor 2025
- Top Rank: Gujarat Cooperative Milk Marketing Federation (Amul)
- Organiser: International Cooperative Alliance (ICA)
- Where? ICA CM50 Conference, Doha, Qatar
- Other Indian Cooperative: Indian Farmers Fertiliser Cooperative Limited (IFFCO) ranked No.2 globally
About World Cooperative Monitor:
Developed by: The World Cooperative Monitor is prepared by the ICA with technical and research support from the European Research Institute on Cooperative and Social Enterprises (EURICSE).
Rankings: WCM provides two main ways to rank the Top 300 cooperatives and mutual enterprises
- Turnover-based ranking
- Turnover-to-GDP per capita ratio ranking
The 2025 edition: WCM 2025 financial data from the fiscal year 2023 which varies by country due to different accounting standards, generally covering April 1, 2023, to March 31, 2024.
Top-Ranked Indian Cooperatives:
GCMMF (Amul): Led global cooperatives in GDP per capita, driven by its USD 7.3 billion annual turnover, daily procurement of around 35 million litres of milk, and efficient farmer-managed operations with a strong market presence.
Operations: The cooperative is efficiently farmer-managed, with a network of over 3.6 million milk producer members across 18,600 village milk cooperative societies in Gujarat.
IFFCO: Indian Farmers Fertiliser Cooperative Limited (IFFCO) ranked second globally, serving 50 million farmers through 35,000 cooperatives, with a focus on fertiliser, digital platforms, and sustainable practices.
Top 5 Rankings by Turnover over GDP per Capita:
| Rank 2023 | Organisation | Country | Type | Ratio: Turnover/GDP per capita 2023 |
|---|---|---|---|---|
| 1 | Gujarat Cooperative Milk Marketing Federation Ltd (AMUL) | India | Producer | 2,899,260 |
| 2 | Indian Farmers Fertiliser Cooperative Limited (IFFCO) | India | Producer | 2,555,994 |
| 3 | Groupe Crédit Agricole | France | Consumer/User | 2,403,513 |
| 4 | Sistema Unimed | Brazil | Worker | 1,898,376 |
| 5 | Groupe BPCE | France | Consumer/User | 1,853,431 |
Top 5 Cooperatives by Turnover (USD) over Top 300 Ranking:
| Rank 2023 | Organisation | Country | Type | Turnover 2023 (Billion USD) |
|---|---|---|---|---|
| 1 | Groupe Crédit Agricole | France | Consumer/User | 107.42 |
| 2 | State Farm | United States of America (USA) | Mutual | 93.79 |
| 3 | REWE Group | Germany | Producer | 90.81 |
| 4 | Groupe BPCE | France | Consumer/User | 82.83 |
| 5 | Groupe Crédit Mutuel | France | Consumer/User | 69.15 |
About International Cooperative Alliance (ICA):
President – Ariel Guarco
Headquarters – Brussels, Belgium
Established – 1895
