The Business Bytes
Jharsuguda, November 23, 2024 (TBB Bureau): Vedanta Aluminium, India’s largest aluminium producer, is driving significant social change in Western Odisha through the Subhalaxmi Co-operative. Established in 2008, the cooperative has been a beacon of empowerment for rural women, offering innovative livelihood and welfare programs that foster economic independence and sustainable development.
A standout initiative under its banner, the Mahila Kalyan Panthi Fund, exemplifies the cooperative’s commitment to social welfare. This unique mechanism allocates 1% of every loan availed by members to support critical life-stage needs such as maternity care, scholarships for meritorious students, and financial aid during family crises. To date, this fund has benefited over 1,400 women, making a tangible impact on their lives and families.
Praising the success of Subhalaxmi Co-operative, Sunil Gupta, COO of Vedanta Aluminium, stated, “The Subhalaxmi Co-operative exemplifies the power of corporate-community partnerships. It showcases how rural women can achieve economic and social empowerment. With initiatives like the Mahila Kalyan Panthi Fund, we remain committed to helping women realize their aspirations and become equal contributors to community development.”
The cooperative’s President, Pankajini Oram, shared her inspiring journey, saying, “Joining Subhalaxmi Co-operative was a turning point in my life. It’s more than financial support; it’s a platform for skill development and personal growth. I am deeply grateful to Vedanta for their unwavering support, which has paved the way for countless women to thrive.”
Over the years, Subhalaxmi Co-operative has grown into one of India’s largest women-led cooperatives, with over 4,800 members spanning 434 Self-Help Groups (SHGs). It has provided financial support of ₹39.36 crore to 19,660 beneficiaries, significantly boosting local economic development. Governed by 15 elected women directors, the cooperative ensures inclusive leadership through regular management and governance workshops.
Vedanta Aluminium’s social interventions extend far beyond the cooperative. Nearly 5,000 women from over 350 SHGs have been empowered through various programs. In healthcare, the company delivers doorstep medical services to about 50,000 people every year. Its commitment to education is evident in the support provided to over 13,000 students annually. In collaboration with local communities, Vedanta has also planted approximately 1.50 lakh trees, reflecting its dedication to environmental stewardship.
Through initiatives like Subhalaxmi Co-operative, Vedanta Aluminium is transforming lives across nearly 80 villages in and around Jharsuguda, benefiting over 3 lakh people annually. This unwavering dedication underscores the potential of corporate-community partnerships in creating sustainable and inclusive growth.
