Cooperative system crucial for sustainable development

Vijayawada: Acharya Nagarjuna University (ANU) Vice-Chancellor Prof K Gangadhara Rao stressed that equitable and sustainable economic development could be achieved only through expansion and strengthening of cooperative system. He said youth must understand the role of cooperatives in reducing growing economic inequalities and should help promote collaborative spirit for future generations. He appreciated the efforts of the Visakhapatnam Cooperative Bank in promoting cooperative values among youth.

A conference on the importance of cooperation was organised on Friday at Prof L Venugopal Reddy Hall in ANU, which was jointly hosted by Visakhapatnam Cooperative Bank, Mangalagiri Branch, and Department of Rural Development, chaired by NSS Coordinator Prof V Divya Tejomurthy. On the occasion, International Year of Cooperatives 2025 logo was unveiled.

Visakhapatnam Cooperative Bank Director Prof Nannapaneni Anjaiah said UN’s decision to designate the year for the second time in 13 years reflects the urgent need to strengthen cooperative systems worldwide.

He noted that global platforms such as the upcoming G20 Summit emphasise equality, solidarity, and sustainability principles rooted in the cooperative model.

ANU Rector Prof R Sivaramaprasad, Visakha Cooperative Bank Director Chinnam Koteswara Rao, Principal M Sureshkumar, and others highlighted the role of cooperative culture in ensuring justice, equality, and rural development.