Amul Achieves ₹1 Lakh Crore in Sales, Aims to Position India as Global Dairy Leader
Amul hits ₹1 lakh crore in sales; MD says India could be dairy to the world within a decade
The Economic Times
Image: The Economic Times
Amul, a dairy cooperative in India, has surpassed ₹1 lakh crore (approximately $12 billion USD) in annual sales. Managing Director Jayen Mehta envisions India becoming a global dairy powerhouse within a decade, driven by cooperative economics and significant policy changes, including substantial GST reductions on dairy products.
- 01Amul's sales reached ₹1 lakh crore, marking a significant milestone in its growth since 1946.
- 02India is the world's largest milk producer, contributing 25% of global output, with expectations to rise to one-third in a decade.
- 03Recent GST cuts on dairy products are expected to benefit both consumers and farmers by reducing costs and increasing organized sector participation.
- 04The dairy sector is crucial for the livelihoods of around 10 crore families in India, making it a vital economic and social pillar.
- 05The cooperative model in India's dairy sector ensures higher returns for farmers compared to private companies, enhancing competitiveness.
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Amul, the dairy cooperative that began with just 250 litres of milk per day in 1946, has achieved a remarkable milestone by crossing ₹1 lakh crore (approximately $12 billion USD) in annual sales. Managing Director Jayen Mehta shared his vision for India's dairy sector, predicting that the country could become the 'dairy to the world' within the next decade, as it currently produces 25% of the world's milk. This growth is supported by India's extensive network of approximately 200,000 dairy cooperative societies across all 28 states, which play a crucial role in the economy and support the livelihoods of around 10 crore families. Mehta highlighted the recent GST reductions on dairy products, which lower taxes on items like ghee and butter, as a landmark policy change that will help bridge the gap between consumer prices and farmer earnings. With India's dairy sector moving towards value-added products, the cooperative model continues to provide a competitive advantage by maximizing returns for farmers rather than shareholders.
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The growth of Amul and the dairy sector enhances economic stability for millions of families in rural India, providing better income and opportunities.
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