Khadi Village Industries Commission records highest-ever turnover of Rs 95,742 crore amid COVID-19
Khadi Village Industries Commission records highest-ever turnover of Rs 95,742 crore amid COVID-19
wbkvib

It is quite surprising but it is true that Khadi and Village Industries Commission (KVIC) has recorded its highest-ever turnover. This news comes at a time when many retailers were unable to report pre-COVID level turnover. In the year 2020-21, KVIC reported a gross annual turnover of Rs 95,741.74 crore, as compared to Rs 88,887 crore turnover in 2019-20.

KVIC reported an increase of 7.71 per cent. This rise in performance was during the time when the production activities remained suspended for more than three months during the nationwide lockdown announced on March 25 last year. The Ministry of Micro,Small & Medium Enterprises in a note stated, “During this period, all Khadi production units and sales outlets too remained closed, severely affecting the production and sales.” But it rose up to the occasion to support the ‘Atma Nirbhar Bharat’ and ‘Vocal for Local’ scheme announced by the prime minister Narendra Modi..

Compared to the year 2015-16, the overall production in Khadi and Village Industry sectors in 2020-21 has registered a whopping growth of 101 per cent while the gross sales during this period increased by 128.66 per cent. A host of initiatives like launch of Khadi e-portal, Khadi masks, Khadi footwear, Khadi Prakritik Paint, Khadi hand sanitisers, etc., setting up of a record number of new PMEGP units, new SFURTI clusters, Government’s push to Swadeshi and KVIC’s historic agreements with Paramilitary forces for supply of provisions increased the turnover of village industry sector during the pandemic.

Compared to the production of Rs 65,393.40 crore in 2019-20, the production in village industry sector increased to Rs 70,329.67 crore in 2020-21.

Similarly, in FY 2020-21, the sales of village industry products stood at Rs 92,214.03 crore as compared to Rs 84,675.29 crore in 2019-20.

The production and sales in the Khadi sector, however, slightly declined as spinning and weaving activities across the country took a major hit during the pandemic.

The overall production in the Khadi sector in 2020-21 was recorded at Rs 1,904.49 crore as compared to Rs 2,292.44 crore in 2019-20, while the overall Khadi sales stood at Rs 35, 27.71 crore as compared to Rs 4,211.26 crore in the previous year.

KVIC Chairman Vinai Kumar Saxena said during this period, KVIC’s main focus was 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.

(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

Free Press Journal

www.freepressjournal.in