Khadi and Village Industries Commission reports Rs 1.15 lakh crore in turnover
The MSME ministry stated that KVIC has achieved a height that remains a distant goal for all FMCG companies in India.
The Khadi and Village Industries Commission (KVIC) achieved a whopping Rs 1.15 lakh crore in turnover in 2021-22, growing at a rate of 20.54 percent from the previous year, the government said on Saturday.
The MSME ministry stated that KVIC has achieved a height that remains a distant goal for all FMCG companies in India.
"Thanks to the constant support of Prime Minister Narendra Modi, the KVIC has, for the first time, clocked 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," the statement said.
Last fiscal year, the overall turnover of KVIC stood at Rs 1,15,415.22 crore as compared to Rs 95,741.74 crore in 2020-21. KVIC has thus registered a growth of 20.54 percent from 2020-21.
"Compared to the year 2014-15, the overall production in the Khadi and Village Industry sectors in 2021-22 has registered a whopping growth of 172 percent while the gross sales during this period increased by over 248 percent," the ministry said.
This massive turnover of KVIC has come despite partial lockdown in the country in April-June 2021 due to the second wave of the pandemic, it added.
The Khadi sector registered a growth of 43.20 percent in FY22 from Rs 3,528 crore in 2020-21. In the last 8 years, from 2014-15, the production in the Khadi sector in 2021-22 increased by 191 percent while the Khadi sales increased exponentially by 332 percent.
The turnover in the village industries sector alone reached Rs 1,10,364 crore in 2021-22, as compared to Rs 92,214 crore in the previous year. In the last 8 years, the production in the sector increased by 172 percent while the sales rose by 245 percent in 2021-22.