Khadi and Village Industries Commission clocks Rs 1.15 lakh crore revenue in FY22

By

Maverick Martins

Published
May 2, 2022

The Khadi and Village Industries Commission (KVIC) has witnessed a 20 percent growth in revenue of Rs 1.15 lakh crore ($1.5 billion) for the financial year 2021-22, as compared to Rs 95,741 from the previous year.

The KVIC sector’s production over the last six years has increased by 172 percent which has resulted in sales growth of over 248 percent over the last six years, according to data from the micro, small and medium enterprises (MSME) ministry.

The ministry claims that KVIC is only company to have recorded a turnover of over Rs 1 lakh crore and managed to achieve the number despite the partial lockdown in the country in April-June 2021 due to the second wave of the pandemic.

Commenting on the revenue growth, Vinai Kumar Saxena, chairman of KVIC in a statement said, “PM Narendra Modi’s constant support and appeals to go ‘swadeshi’ were critical to this growth story. 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.”

“A range of innovative ideas, schemes and scientific methodology have helped diversify the product range and generate market interest,” Saxena added.

KVIC is part of the Ministry for MSMEs and works to promote handloom textiles with the aim of preserving Indian textile traditions and creating employment opportunities in the sector.