GCMMF, the cooperative behind Amul, announced a turnover of $7 billion for the 2023-24 fiscal year, reflecting an 8% growth and reinforcing Amul’s position as the strongest food and dairy brand in the world during its 50th anniversary.
The Gujarat Cooperative Milk Marketing Federation Limited (GCMMF), renowned for its Amul brand, announced a significant milestone during its 50th Annual General Meeting (AGM), revealing an impressive turnover of approximately $7 billion for the financial year 2023-24. This marks an 8% growth compared to the previous year, solidifying Amul’s status as the world’s strongest food and dairy brand.
GCMMF Chairman Shamalbhai Patel expressed pride in the achievement, stating, “We have achieved the historic feat of emerging as the strongest food brand in the world in our Golden Jubilee Year.” Overall, the group’s total turnover increased to approximately $10 billion, up from approximately $9 billion in the previous fiscal year.
According to Brand Finance, a leading UK brand consultancy, Amul has been recognized not only as the strongest food brand but also as the strongest dairy brand globally. This accolade reflects Amul’s unwavering commitment to quality and consumer trust, driven by years of dedication and hard work.
As the world’s largest farmer-owned dairy cooperative, GCMMF connects 36 lakh farmers from 18,600 villages across Gujarat. The cooperative’s 18 member unions collectively purchase 300 lakh liters of milk daily, ensuring fair compensation for farmers while delivering high-quality dairy products to consumers.
A Journey of Growth and Recognition
Founded in 1946 in Anand, Gujarat, Amul began its journey in a region where Polson Dairy was the sole operator. Over the decades, Amul has expanded its reach beyond India, building a reputation for quality and effective marketing strategies. Its extensive product range includes milk, ghee, curd, cheese, ice cream, and chocolates, all of which enjoy immense popularity in the Indian market. The brand’s iconic slogan, “Amul, priceless,” resonates widely across the nation, highlighting its cultural significance.
Impact on the Dairy Industry and Farmers
The success of GCMMF and the Amul brand has reshaped the Indian dairy industry, providing farmers with not only a source of income but also a means of social empowerment. Amul’s story exemplifies how a local cooperative can achieve global recognition and elevate the quality of dairy products in India, setting a new benchmark in the industry.
