KVIC records annual turnover of over Rs 1.5 crorein 2023-24
10 July 2024, Mumbai
A significant milestone for the firm, the annual turnover of Khadi and Village Industries Commission (KVIC) surpassed Rs 1.5 lakh crore in the fiscal year 2023-24.
The commission also created over 10 lakh new jobs during the same period, affirms Manoj Kumar, Chairman, KVIC.
As per provisional figures for FY 2023-24, KVIC reported a dramatic 315 per cent increase in production and a 400 per cent rise in sales over the past decade. Employment generation by the Commission also grew by 81 per cent since the financial year 2013-14.
This surge in performance marks a significant leap from previous years, with KVIC reporting a turnover of Rs 1.34 lakh crore in 2022-23. Over the past ten financial years under the Modi Government, sales of KVIC products have skyrocketed from Rs 31,154.2 crore in 2013-14 to an unprecedented Rs 155,673.12 crore in 2023-24.
KVIC's concerted efforts in FY 2023-24 resulted in the creation of 10.17 lakh new jobs in rural areas, bolstering the rural economy. The increasing market demand for Khadi and village industry products crafted by rural artisans is reflected in these impressive production, sales, and employment statistics.
As reflected in the production, sales and employment figures, the demand for Khadi and village industry products made by rural artisans is increasing rapidly in the market, adds Kumar.
This record-breaking performance underscores KVIC's crucial role in supporting rural artisans and strengthening the rural economy through sustainable development and job creation.
