Khadi and Village Industries Commission announces a turnover of Rs 1.15 lakh crore
- ByStartupStory | May 3, 2022
The Khadi and Village Industries Commission (KVIC) attained a massive Rs1.15 lakh crore turnover in 2021-22, growing at a pace of 20.54% since the last year, the government stated on Saturday. The MSME ministry also stated that KVIC has reached a height that remains an undesirable aim for all FMCG companies in India.
A recent statement said that, KVIC is the sole company in the entire nation to hav recorded a turnover of Rs 1 lakh crore. With the persistent support of the Prime Minister Narendra Modi KVIC was able to achieve the massive turnover which is unparalleled by any FMCG company in the country. In the last financial year, the overall turnover of KVIC remained at Rs 1,15,415.22 crore as compared to Rs 95,741.74 crore in 2020-21. KVIC has therefore registered a growth of 20.54 percent from 2020-21.
The ministry said, the comprehensive product in the Khadi and Village Industry sectors in 2021-22 has registered an enormous rise of 172 percent while the gross deals during this period grown by over 248 percent as compared to the timeline of 2014-15.
This massive turnover of KVIC has come regardless of partial lockdown in the country in April-June 2021 due to the second surge of the epidemic, it added.
The Khadi sector registered a growth of 43.20% in FY22 from Rs 3,528 crore in 2020-21. In the past 8 years, from 2014-15, the production in the Khadi sector in 2021-22 increased by 191% while the Khadi sales increased exponentially by 332%.
The development in the village industry sector alone reached Rs 1,10,364 crore in 2021-22, as compared to Rs 92,214 crore in the last year. In the past 8 years, the product in the sector increased by 172 percent while the sales rose by 245 percent in 2021-22.
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