KVIC turnover crosses ₹1 lakh crore in 2021-22, beats all Indian FMCG cos
Premium- This massive turnover of KVIC has come despite partial lockdown in the country in April-June in 2021, due to the second wave of Covid-19 pandemic
Khadi and Village Industries Commission (KVIC) has clocked a turnover of ₹1.15 lakh crore in 2021-22, much higher than any FMCG company in the country.
According to a statement by the ministry of micro, small and medium enterprises (MSME), the latest turnover makes KVIC the only company in the country to have recorded a turnover of ₹1 lakh crore.
The turnover of KVIC grew 20.54% from ₹95, 741.74 crore in the previous year. Compared to 2014-15, the overall production in Khadi and Village Industry in 2021-22 has registered a whopping growth of 172% while the gross sales during this period increased by over 248%.
This massive turnover of KVIC has come despite partial lockdown in the country in April-June in 2021, due to the second wave of Covid-19 pandemic.
Looking at the performance in the last one year, the biggest impact can be seen in the Khadi sector which has registered a growth of 43.20% from ₹3528 crore in 2020-21 to ₹5052 crore in 2021-22. In the last eight years, the production in the Khadi sector in 2021-22 increased by 191%, while the sales have increased exponentially by 332%.
On the other hand, the turnover in the village industries sector alone has reached ₹1,10,364 crores in 2021-22, as compared to ₹92,214 crore in the previous year. In the last 8 years, the production in the sector in 2021-22 has increased by 172%, while the sales have increased by 245%.
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.
“Prime Minister’s repeated appeals to achieve self-reliance by promoting 'Swadeshi' and particularly ‘Khadi’ has done wonders. Today Khadi stands far ahead of all FMCG companies in the country. By employing new scientific methods and diversifying Khadi’s product range, KVIC has succeeded in achieving such massive growth which no other FMCG company can match,“ he said.
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