KVIC reports Rs 1.15 lakh cr record turnover in FY22; becomes "only company" in country to post turnover of Rs 1 lakh crore, MSME ministry claims

The Khadi and Village Industries Commission (KVIC) reached a record turnover of Rs 1.15 lakh crore in 2021-22, growing at a rate of 20.54 per cent from the previous year, the government said on Saturday.
KVIC has achieved a height that was a distant goal for all FMCG firms in India, according to the MSME ministry.

"Thanks to the constant support of Prime Minister Narendra Modi, KVIC has, for the first time, clocked a massive turnover of Rs 1.15 lakh crore, which is unprecedented by any FMCG company in the country. This makes KVIC the only company in the country to have recorded a turnover of Rs 1 lakh crore," the statement said.

KVIC's overall turnover in the last fiscal year was Rs 1,15,415.22 crore compared to Rs 95,741.74 crore in 2020-21. Therefore, KVIC has grown by 20.54 per cent from 2020 to 2021.

"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," the ministry said.

KVIC has seen a massive turnover despite a partial lockdown in April-June 2021 caused by the second wave of the pandemic. The Khadi sector grew 43.20 per cent in FY22 from Rs 3,528 crore in 2020-21. From 2014 to 2015, the Khadi sector production in 2021-22 increased by 191 per cent, while the Khadi sales increased by 332 per cent. A turnover of Rs 1,10,364 crore was generated by the village industries sector alone in 2021-22, compared with Rs 92,214 crore the year before. Production in the sector grew by 172 per cent in the last 8 years, while sales rose by 245 per cent in 2021 - 2022.

Vinai Kumar Saxena, Chairman of KVIC, credited Khadi's phenomenal growth to Prime Minister Narendra Modi's constant efforts to promote Khadi in the country.

Meanwhile, the Khadi has grown as a result of innovative marketing ideas, creative schemes, and active support from a variety of ministries, he said.

"Prime Minister's repeated appeals to achieve self-reliance by promoting "Swadeshi" and particularly "Khadi" has done wonders," Saxena pointed out. KVIC is under the administrative control of the Ministry of Micro Small and Medium Enterprises.

(With Inputs from PTI)