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KVIC registers record sales of Rs 1.55 lakh crore in 2023-24
Khadi and Village Industries Commission (KVIC) has registered a robust 15.7 per cent growth in sales to cross a record Rs 1.55 lakh crore and created a staggering 10.17 lakh new jobs in rural areas during the financial year 2023-24, according to official figures released on Tuesday.
New Delhi : Khadi and Village Industries Commission (KVIC) has registered a robust 15.7 per cent growth in sales to cross a record Rs 1.55 lakh crore and created a staggering 10.17 lakh new jobs in rural areas during the financial year 2023-24, according to official figures released on Tuesday.
“In the last 10 financial years of the Modi government, the sales of indigenous Khadi and village industry products made by artisans in rural areas have jumped 5-fold from Rs 31,154.2 crore in the financial year 2013-14 to the highest level of Rs 1,55, 673.12 crore in the financial year 2023-24,” KVIC Chairman Manoj Kumar said.
Kumar said that surpassing all previous figures, there has been an increase of 400 per cent in sales, 314.79 per cent in production, and 80.96 per cent in new employment generation in 2023-24 compared to the financial year 2013-14.
He said that this remarkable performance of KVIC has made a significant contribution towards realising the vision of a 'Developed India' by 2047 and making India the third-largest economy in the world.
KVIC Chairman attributed this historic achievement to the inspiration of revered Bapu, the guarantee of Prime Minister Narendra Modi, and the tireless efforts of crores of artisans working in remote villages of the country.
He said PM Modi's endorsement of Khadi has increased people's confidence in Khadi products. Khadi has become a 'new status symbol' of fashion for the youth. The demand for Khadi and village industry products is increasing rapidly in the market, which is reflected in the production, sales, and employment figures.
He further said that in the last ten years, major changes and decisions have been taken to increase the production of Khadi and village industries, which are yielding positive results. He further said that these figures are proof that the trust of the people of the country has increased in 'Make in India,' 'Vocal for Local,' and 'Swadeshi products.'
He said that there has also been an unprecedented increase in the production of Khadi fabrics in the last ten years. While the production of Khadi fabrics was Rs. 811.08 crores in the financial year 2013-14, it reached Rs. 3,206 crores in the financial year 2023-24 with a jump of 295.28 per cent, which is the best performance so far. The production of Khadi fabrics in the financial year 2022-23 was Rs 2915.83 crore.
The demand for Khadi fabrics has also increased rapidly in the last ten financial years. While its sales were only Rs 1,081.04 crores in the financial year 2013-14, it reached Rs 6,496 crores in the financial year 2023-24 with an increase of 500.90 per cent. Khadi fabrics worth Rs. 5,942.93 crore were sold in the financial year 2022-23.
The promotion of Khadi by PM Modi from big platforms has had a widespread impact on the sales of Khadi fabrics. The way the Prime Minister promoted Khadi during the G-20 summit held in the country last year has attracted the world community towards Khadi.
The main objective of KVIC, which functions under the administrative control of the Ministry of Micro, Small and Medium Enterprises, is to provide maximum employment opportunities in rural areas.
Kumar also said that the business of Khadi and Gramodyog Bhavan, New Delhi, has also seen unprecedented growth in the last ten years. While the business here was Rs 51.13 crores in the financial year 2013-14, it increased by 87.23 per cent to Rs 95.74 crores in the financial year 2023-24.
