KVIC has achieved a new height by clocking a massive turnover of Rs 1.15 lakh crore
NEW DELHI, May 1 (The CONNECT) - Khadi and Village Industries Commission (KVIC) has achieved a new height by clocking a massive turnover of Rs 1.15 lakh crore, which is unprecedented by any FMCG company in the country.
This makes KVIC the only company in the country to have recorded a turnover of Rs 1 lakh crore.
In FY 2021-22, the overall turnover of KVIC stood at a whopping Rs 1,15,415.22 crore as compared to Rs Rs 95, 741.74 crore in the previous year, i.e. 2020-21. KVIC has thus registered a growth of 20.54% from the year 2020-21. Compared to the year 2014-15, the overall production in Khadi and Village Industry sectors in 2021-22 has registered a whopping growth of 172% while the gross sales during this period increased by over 248%. This massive turnover of KVIC has come despite partial lockdown in the country in the first 3 months of fiscal 21, due to the second wave of Covid-19.
Looking at the performance in the last one year, the biggest impact can be seen in the Khadi sector which has registered a growth of 43.20% from Rs 3,528 crore in 2020-21 to Rs 5,052 crore in 2021-22. In the last 8 years, i.e. from 2014-15, the production in the Khadi sector in 2021-22 has increased by 191%, while the Khadi sales have increased exponentially by 332%.
On the other hand, the turnover in the Village Industries sector alone has reached Rs 1,10,364 crores in 2021-22, as compared to Rs 92,214 crore in the previous year. In the last 8 years, the production in the Village Industry sector in 2021-22 has increased by 172%, while the sales have increased by 245%.
KVIC Chairman Vinai Kumar Saxena said "Prime Minister’s repeated appeals to achieve self-reliance by promoting Swadeshi and particularly Khadi have done wonders.”
KVIC has succeeded in achieving such massive growth which no other FMCG company can match by employing new scientific methods and diversifying Khadi’s product range, Kumar said.
In the last couple of years, KVIC’s main focus has been to create sustainable employment for artisans and unemployed youth. Faced with economic distress, a large number of youths took up self-employment and manufacturing activities under PMEGP which increased the production in the village industry sector.
At the same time, the sales of Khadi and village industry products grew significantly following the Prime Minister’s appeal to buy Swadeshi products. This is also evident from the fact that Khadi’s single-day sale at its flagship store at Connaught Place in New Delhi also reached the all-time high of Rs 1.29 crore on October 30, 2021.