Amul's journey to ₹1 lakh crore is a saga of grit, protests and co-op unity of farmers against milk cartels

In 1946, a group of farmers in Anand, a small town in Gujarat, stopped supplying milk to a cartel they believed was exploiting them. What followed was not just a protest, but the foundation of a model that would go on to reshape India’s dairy economy, and eventually build a ₹1 lakh crore FMCG giant.

Today, Amul has crossed ₹1 lakh crore in annual turnover in FY26, a milestone that puts it in a league few homegrown consumer brands occupy.

In a post on X, home minister Amit Shah said, “Saraswat Cooperative Bank and Amul crossing the ₹1 lakh crore annual turnover mark in 2025–26 is a vivid example of the strength of cooperatives and their immense potential… This achievement is not only historic… but it will also provide new energy to the journey of building an Atmanirbhar Bharat.”

But the scale can obscure the simplicity of how a farmer-owned cooperative has learned how to operate like a modern consumer goods company.

What makes the Amul model endure?

The cooperative that began with just two village societies and 247 litres of milk evolved into a three-tier system - village societies, district unions, and a state federation - designed to keep control with producers. Leaders like Sardar Vallabhbhai Patel pushed farmers to eliminate middlemen, while Verghese Kurien professionalised operations, turning a local movement into a national template.

That template now runs through the Gujarat Cooperative Milk Marketing Federation, which markets Amul’s products. In FY26, GCMMF reported a turnover of ₹73,450 crore, up 11.4% from ₹65,911 crore a year earlier. The gap between GCMMF’s numbers and Amul’s overall ₹1 trillion turnover comes from parallel sales by district dairies under the Amul brand and revenue streams like cattle feed.

Jayen Mehta, managing director of Amul (GCMMF), credits a sharp distribution push in the domestic market. “We have penetrated towns with a population of over 5,000,” he said in a release, pointing to distribution as a key driver. He also added the company would continue to grow in double digits.

The network today spans millions of retailers and a product portfolio of over 1,200 packs which includes everything from milk and butter to protein drinks and probiotic offerings. “The federation, along with its 18-member district cooperatives, continues to lead the dairy landscape by blending localised market strategies with the powerhouse Amul brand identity,” the release added.

“We have focused heavily on product diversification which includes protein, probiotic and organic products that are also seeing a strong growth rate. Even milk-related categories, which include value-added products like buttermilk and cheese, are growing very well,” Mehta said.

This diversification has helped Amul behave less like a commodity milk brand and more like a full-spectrum FMCG player.

“Since Amul dominates the market, the growth also comes to us,” Mehta noted, underlining the brand’s entrenched position in Indian households.

At the same time, the company is pushing beyond India. Amul is now present in over 50 countries and has introduced fresh milk in Europe and the United States - markets that are typically difficult for Indian dairy brands to crack. The next phase includes expansion into Africa and Southeast Asia, with plans to add 10 more international markets within a year. “We are not just growing our operations globally; we are expanding the very definition of what a farmer-owned institution can achieve in the modern world, ensuring that the fruits of technology and global trade reach the hands of the producers,” he added.

“Crossing the ₹1 trillion turnover is a testament to the trust of millions of consumers and the tireless hard work of our 360 million dairy farmers,” said Ashokbhai Chaudhary, chairman, GCMMF. 

Vice-chairman Gordhanbhai Dhameliya called it a definitive victory for the cooperative spirit. “By scaling our model nationally, we are proving that the ‘Amul Model’ is a timeless blueprint for economic democracy.”