KVIC posts Rs 1.15 lakh crore turnover in 2021-22, beats all FMCG firms
Apr 30, 2022
New Delhi [India], April 30 : Khadi and Village Industries Commission (KVIC) has become the first organisation in India in the FMCG category to have a turnover of over Rs 1 lakh crore. KVIC's turnover surged to Rs 1.15 lakh crore in the financial year ended March 2022, the government data showed on Saturday.
KVIC turnover surged by 20.54 per cent to Rs 1,15,415.22 crore in 2021-22 as compared to Rs 95,741.74 crore recorded in the previous year.
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 per cent while the gross sales during this period increased by over 248 per cent. This massive turnover of KVIC has come despite a partial lockdown in the country in the first three months, i.e. April to June in 2022, 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 per cent from Rs 3528 crore in 2020-21 to Rs 5052 crore in 2021-22. In the last 8 years, i.e. from 2014-15, the production in the Khadi sector in 2021-22 has increased by 191 per cent, while the Khadi sales have increased exponentially by 332 per cent, according to data released by the Ministry of Micro, Small & Medium Enterprises.
Turnover of Village Industries sector surged to 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 Village Industry sector in 2021-22 has increased by 172 per cent, while the sales have increased by 245 per cent.
KVIC Chairman Vinai Kumar Saxena said innovative schemes, creative marketing ideas and active support from various ministries have led to the growth in the Khadi sector.
"Prime Minister's repeated appeals to achieve self-reliance by promoting Swadeshi and particularly Khadi have 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," Saxena said.
In the last couple of years, KVIC's main focus has been 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, the ministry said.
At the same time, the sales of Khadi and village industry products grew significantly following the Prime Minister's appeal to buy Swadeshi products. This is also evident from the fact that Khadi's single-day sale at its flagship store at Connaught Place in New Delhi also reached the all-time high of Rs 1.29 crore on 30th October 2021.
