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KVIC clocks Rs 1.15 lakh cr turnover in FY'22, growing at a rate of 20.54%

KVIC has achieved a height which remains a distant goal for all FMCG companies in India, said MSME industry

Agencies | Updated on: Saturday, April 30, 2022, 03:25 PM IST

Out of the Rs 12,000 crore, capital investment, KVIC disbursed a margin money subsidy of Rs 2978 crore while the bank credit flow was nearly Rs 9,000 crore./ Representative image |
Out of the Rs 12,000 crore, capital investment, KVIC disbursed a margin money subsidy of Rs 2978 crore while the bank credit flow was nearly Rs 9,000 crore./ Representative image |
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The Khadi and Village Industries Commission (KVIC) achieved a whopping Rs 1.15 lakh crore 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 which remains a distant goal for all FMCG companies in India.

''Thanks to the constant support of Prime Minister Narendra Modi, 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 per cent from 2020-21.

''Compared to the year 2014-15, the overall production in 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 per cent while the sales rose by 245 percent in 2021-22.

KVIC Chairman Vinai Kumar Saxena attributed Khadi's phenomenal growth to the constant support of Prime Minister Narendra Modi to promote Khadi in the country.

At the same time, innovative schemes, creative marketing ideas and active support from various ministries have also added to the Khadi's growth in recent years, he said.

''Prime Minister's repeated appeals to achieve self-reliance by promoting “Swadeshi” and particularly “Khadi” has done wonders,'' Saxena pointed out. KVIC is under the administrative control of the Ministry of Micro Small and Medium Enterprises.

(With PTI inputs)

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Published on: Saturday, April 30, 2022, 03:25 PM IST