The landscape of the global co-operative sector is undergoing a revolutionary shift driven by digital transformation, a key theme at the 18th ICA Asia Pacific Research Conference. Jointly hosted by the International Co-operative Alliance (ICA) Asia Pacific, IIM Kozhikode, and the centenary-celebrating ULCCS, this event is redefining the co-operative model for the digital age. Following an engaging international seminar organized by ULCCS and the inauguration at UL CyberPark on Tuesday, the conference at IIM Kozhikode is gathering industry experts, policymakers, and co-operative leaders from across the globe to envision a sustainable and innovative future for co-operatives in the era of Industry 5.0.
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Bringing together over 320 cooperative leaders and experts from 18 countries, the conference features in-depth discussions and more than 150 research papers covering a wide array of topics, along with the Coop Pitch 2024 competition for youth, coopreneurs, and social entrepreneurs.
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The day began with an opening session chaired by Prof. Debashis Chatterjee, Director of IIM Kozhikode, who discussed the critical need for businesses to adopt Conscious Capitalism, focusing on environmental impact and sustainability. He proposed a framework based on Indian values—Sathyam (Truth), Nithyam (Sustainability), and Purnam (Wholeness)—to guide businesses in their transition toward responsible practices. These three values also serve as the guiding principles for the premier B-School.
Dr. Yashavantha Dongre, Vice Chancellor of Chanakya University and Chair of Research at the International Cooperative Alliance-Asia Pacific, delivered the opening address, emphasizing the urgent need for research and collaboration within co-operatives to ensure sustainable growth.
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Prof. T.M. Thomas Isaac, former Kerala Finance Minister, delivered the keynote address, positioning Kerala as a leader in transitioning to a knowledge-based economy under the framework of Industry 5.0. He stressed that co-operatives, with their deep-rooted community values, are well-suited to lead this transition, especially in a state grappling with high unemployment among educated youth. “Despite high unemployment rates among educated youth, we have millions of migrant workers. The solution lies in adopting Industry 5.0 technologies to foster start-ups and skill-based industries,” Prof. Isaac added.
Balasubramanian Iyer, Regional Director of the International Cooperative Alliance Asia-Pacific, underscored the importance of knowledge sharing among co-operatives worldwide. “With over 306 organizations representing various sectors like agriculture, banking, and health, ICA is driving the global co-operative movement towards a sustainable and inclusive future,” said Mr. Iyer.
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The session also included engaging discussions on Industry 5.0, emphasizing a more human-centered approach to technology. The session concluded with a dynamic panel discussion led by Prof. H.K. Misra, focusing on the readiness of Kerala’s co-operatives for digital transformation. Panelists emphasized the integration of digital technologies to enhance efficiency and competitiveness while maintaining the democratic values at the core of co-operatives. Jayashankar Prasad, Director of the DC School of Management and Technology and former head of Kerala State IT Infrastructure Ltd, cautioned against centralizing control, advocating for a balanced approach to technology adoption.
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Additionally, Ms. Neha Rachel Abraham from the Self-Employed Women’s Association (SEWA) shared inspiring success stories of empowering women through digital initiatives across India in one of the industrial panel discussions. Despite challenges such as limited mobile access, SEWA’s hybrid digital models have significantly enhanced economic inclusion for women in rural areas, demonstrating a promising path for Kerala’s cooperative sector.
As today’s sessions concluded, a unified call emerged for co-operatives to embrace digital transformation while remaining committed to their core values of inclusivity and sustainability. Today’s events were concluded with performances from artistes at Kerala kalamandalam. Submitted by IIM Kozhikode PR Team
