International Day of Cooperatives 2022: All you need to know about history and significance

International Day of Cooperatives is marked annually on the first Saturday of July. This year, the day will be observed on 2 July to highlight the contributions of the cooperative movement. The occasion also spreads awareness about how cooperatives work in harmony for social, cultural, and economic development. History The United Nations General Assembly (UNGA) passed a resolution on 16 December 1992 to declare the first Saturday of July 1995 as the International Day of Cooperatives. The date was chosen as it marked the centenary of the International Cooperative Alliance’s establishment. It is also called Coops Day. Why is the day significant? The International Day of Cooperatives celebrates the formation of the International Co-operative Alliance and how cooperatives work towards making the world a better place. The International Day of Cooperatives is celebrated by organising activities and discussions. This involves the screening of short documentaries that feature the work of different co-operatives. The day also uses radio programs, newspapers and various other mediums to highlight the achievements of the sector. Despite their focus at the community level, co-operatives aspire to bring the benefits of their economic and social model to people all over the world. According to them, inequality of resources, compounded by globalisation, needs to be governed by a set of values to result in a more sustainable distribution of wealth. The cooperative movement is democratic and locally autonomous. At the same time, cooperatives are integrated at the global level as an organisation of associations and enterprises where citizens rely on self-help to meet social, environmental and economic objectives. Values of International Day of Cooperatives Cooperatives follow several values like self-responsibility, democracy, equity, equality, self-help,  and solidarity. These principles are essential to their successful functioning.   Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.