KVIC sales jump 25 percent, reports profit of Rs 15 crore for fiscal 2018-19

By

Maverick Martins

Published
Aug 16, 2019

Khadi and Village Industries Commission (KVIC) witnessed a 25 percent surge in sales and reported a profit of Rs 15 crore ($2.1 million) on the back of strong performances by its cosmetics, food and apparel segments.
 

Cosmetics along with food products like honey were the major contributors to the company’s overall revenue with the remaining coming from sales of its khadi products.
 
For the fiscal year 2018-19, KVIC reported revenue of around Rs 75,000 crore. It is now eyeing a 20 percent growth during the current financial year.

“Partnerships with public and private sector enterprises, aggressive marketing and a renewed push from the Modi government had led to the entity more than double its sales over the last five financial years, from Rs 33,135 crore in 2014-15,” KVIC chairman Vinai Kumar Saxena told Times of India.
 
“During the current financial year, KVIC is targeting a 20% growth in village industry sales, which it hopes will touch the Rs 85,000-crore mark, with khadi sales of Rs 5,000 crore, which will be an increase of over 50%,” he added.
 
Village industries include leather goods, accessories, wellness and cosmetics products, and homeware products among others.
 
Government has been investing heavily to promote khadi products across the globe and had recently allocated Rs 1,252.65 crore towards the development of khadi and village industries.