Dharamshala — The Federation of Tibetan Cooperatives in India Ltd (FTCI) celebrated its 10th anniversary on Tuesday, April 21. Sikyong Dr Lobsang Sangay graced the event at Hotel Tibet, as chief guest.
The FCTI was successfully registered under the Multi-State Co-operative Societies Act in 2005. The cooperatives have over Rs 70 crore in member deposits and grants Rs 12 crore as loan to its members every year.
The event was also attended by Mr Penpa Tsering, Speaker of the Tibetan Parliament-in-Exile, Deputy Speaker, Khenpo Sonam Tenphel, Home Kalon, Dolma Gyari, Dr Dinesh, Chief Executive of National Cooperative Union of India (NCUI), Mr Tsewang Yeshi, TCV President along with senior officials and representatives of governmental and non-governmental organisations.
After a minute's silence for the Tibetan martyrs who have sacrificed their lives for the country, Mr. Pema Delek, president, FTCI, narrated a brief account of FTCI.
Sikyong Dr Lobsang Sangay, the chief guest of the event, paid his heartiest congratulations to the FTCI members on its 10 anniversary and appreciated in ability to produce profit in the recent years. He reiterated the need to take responsibility in overall development of the country other than its concept of 'Economic Democracy'.
"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 cooperatives is based on economic democracy," Sikyong added.
Speaker Penpa Tsering stressed the need of properly utilizing staff of FTCI to achieve ultimate efficiency. He further added that the success of the co-operative should not be based only for the public but for the stability of the settlement in general as well.