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Federation of Tibetan Co-operatives in India completes 10 years

Dharamsala (Arvind Sharma ) April 20
The Federation of Tibetan Co-operatives in India Ltd(FTCI) celebrated its10th anniversary at Hotel Tibet, Mcleod Ganj on Monday . Presiding over this function the Tibetan Prime Minister in exile , Dr Lobsang 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. On April 20, 2005, Federation of Tibetan Co-operatives in India Ltd was registered under the Multi-State Co-operative Societies Act 2002.

Speaker of Tibetan Parliament ,Penpa Tsering advised the members of FTCI to select board members based on candidates’ knowledge on co-operative and business. Pempa said “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.”
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.
Also present at the function were Tibetan 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.

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