The Gujarat Co-operative Milk Marketing Federation (GCMMF), which operates the iconic Amul brand, announces unprecedented growth with five of its cooperatives now in the billion-dollar league. This milestone underscores Gujarat’s pivotal role in India’s dairy industry as GCMMF reports a turnover of ₹59,545 crore ($7 billion) for the fiscal year 2023-24, driven by strategic expansion and diversification.
The Gujarat Co-operative Milk Marketing Federation (GCMMF), which operates India’s beloved Amul brand, has made headlines as it announces unprecedented growth, with five of its cooperatives now entering the billion-dollar league. This remarkable achievement underscores Gujarat’s pivotal role in India’s dairy industry and marks a significant milestone in the country’s agricultural sector.
As of October 18, 2024, GCMMF reported an impressive turnover of ₹59,545 crore (approximately $7 billion) for the fiscal year 2023-24. This is a noteworthy increase from previous years, reflecting the cooperative’s commitment to expanding its market presence and diversifying its product offerings.
In 2008, GCMMF became India’s first billion-dollar milk cooperative with a turnover of ₹5,255 crore. Fifteen years later, three of its member unions have now joined this elite billion-dollar club. The Banas Dairy, located in Palanpur, achieved a turnover of ₹19,003 crore ($2.3 billion). Meanwhile, Amul Dairy in Anand, the original custodian of the Amul brand, reported ₹12,911 crore ($1.5 billion), and Sabar Dairy in Himmatnagar reported ₹8,939 crore ($1.1 billion). Additionally, AmulFed Dairy, a subsidiary of GCMMF based in Gandhinagar, recorded a turnover of ₹12,969 crore ($1.5 billion).
Dudhsagar Dairy, based in Mehsana and owner of the Sagar brand, is close to joining the billion-dollar league, reporting a turnover of ₹7,494 crore ($0.9 billion) for the same financial year. These achievements are particularly impressive given that Gujarat, while not the leading milk producer in India, has expanded its milk processing capabilities and diversified into value-added products.
According to Jayen Mehta, Managing Director of GCMMF, the growth can be attributed to a strategic focus on capacity expansion and product diversification. He stated, “Our member unions have emphasized capacity expansion, value-added product development, and robust cooperative networks both within Gujarat and across the nation.”
With a consolidated turnover of ₹80,000 crore ($10 billion) for the Amul brand in 2023-24, up from ₹72,000 crore ($9 billion) in the previous year, GCMMF continues to thrive. The organization operates a vast network of 3.6 million farmers from 18,600 villages and oversees the daily procurement of 30 million liters of milk. It operates 100 dairy processing facilities across the country and has been ranked 8th among the world’s top 20 dairy companies in terms of milk processing by the International Farm Comparison Network (IFCN). GCMMF’s growth not only signifies its strong market position but also its growing influence in the global dairy landscape.
This success story highlights the significant impact of cooperative efforts in India’s dairy industry and sets a benchmark for future growth and sustainability in agricultural practices.
