DHARAMSHALA, April 20: Tibetan Prime Minister Dr Lobsang Sangay today presided over a modest function in commemoration of 10th anniversary of Federation of Tibetan Co-operatives in India Ltd here at Hotel Tibet, Mcleod Ganj.
Also present at the function were Tibetan Speaker Penpa Tsering, Home Minister Dolma Gyari, Chief Executive of National Cooperative Union of India Dr Dinesh, Tibetan Deputy Speaker Khenpo Sonam Tenphel, senior officials of Tibetan government in exile, Members of Tibetan Parliament, representatives of governmental and non-governmental organizations.
Congratulating the FTCI on its 10th anniversary, Tibetan PM Sangay said, “Business is important. Ideologically, there is capitalist economy and socialist economy, while in capitalist, the capital is owned by private, in socialist, state is in ownership of capital. However, ideology of Co-operatives is based on economic democracy.”
Tibetan co-operatives have over 700 million rupees in member deposits and grants 120 million rupees as loan to its members every year. Currently, FTCI said it benefits more than 63000 Tibetan refugees through 24,000 share members of the 15 member co-operatives in the field of education, finance, employment and various rural development activities.
Speaker Penpa Tsering advised the members of FTCI to select board members based on candidates’ knowledge on co-operative and business.
“A sincere person may fear to take risks on some new business ideas and in business; one earns profit after taking risk. One cannot make profit without taking risks. If business can make profit without risks, everyone will do business; therefore board members should have experience in business and be a risk-taker.”
Speaking on the occasion, Dr Dinesh, Chief Executive of NCUI described the Co-operatives as the most acceptable business model and said that it will become more relevant in the future with a fall in resources.
He also added that the involvement of youth and women in the co-operative is the most challenging. “Youth and women are extremely important and we need to form some kind of strategy or plan and focus on these two important dividends.”
Dr Dinesh also offered to extend his help in conducting trainings and education programs for FTCI members.
On April 20, 2005, Federation of Tibetan Co-operatives in India Ltd was registered under the Multi-State Co-operative Societies Act 2002.
The upcoming projects of FTCI include Nyamdel Finance-Community Banking, Aqua Tibet Mineral Water Project in Bylakuppe, Tibetan Institute of Management and Science and Dairy Farming.
