KVIC expects revenue of Rs 5,000 crore for FY 2019-20

By

Maverick Martins

Published
Jan 27, 2020

The Khadi and Village Industries Commission (KVIC) is expecting revenue of Rs 5,000 crore ($701.1 million) for the financial year 2019-20, on the back of strong demand for khadi products in smaller cities.
 

The demand for khadi products has been increasing in smaller towns and cities which has led to an increase in sales and profit of KVIC.
 
KVIC has been expanding across India and plans to continue with its expansion to further boost sales and create jobs in the country.

“Last year, our turnover was Rs 3215 crore (for Khadi). This year (FY 2019-20), a turnover of Rs 5000 crore is expected. Record turnover for Khadi in the current financial year is expected on account of rising demand of Khadi products in smaller centres and push from Narendra Modi government at the Centre in recent years,” KVIC chairman Vinai Kumar Saxena told the Financial Express.
 
“As many as 8070 Khadi India outlets have been opened across the country. Of these, over 2000 outlets were opened across the country in the last two years only. Over 2000 ‘Khadi Bhandars’ have also been renovated. Overall sale could not have increased if there was no rise in demand in smaller towns and cities as well. Therefore, the sale of Khadi products is good everywhere,” Saxena added.
 
“We are trying to increase our reach everywhere to boost the sale of Khadi products. Increase in sale of Khadi products would lead to an increase in jobs,” he added.
 
To promote khadi, the government had allocated Rs 1,252.65 crore towards the development of Khadi and village industries in its last budget.