: KVIC to post Rs 1.15 lakh cr output #FinanceIndia #StockMarketNEWS #Business New Delhi: The Khadi and Village Industries Commission (KVIC) has clocked a massive turnover of `1.15 lakh crore, which

@StockMarketNEWS Wed 04 May, 2022

Posted in: #FinanceIndia #StockMarketNEWS #Business

KVIC to post Rs 1.15 lakh cr output #FinanceIndia #StockMarketNEWS #Business
New Delhi: The Khadi and Village Industries Commission (KVIC) has clocked a massive turnover of `1.15 lakh crore, which is unprecedented for any FMCG company in the country.

This makes KVIC the only company in the country to record a turnover of `1 lakh crore or more at a whopping `1,15,415.22 crore as compared to `95,741.74 crore posted in the previous financial year, that is, 2020-21.

KVIC has thus registered a growth of 20.54% from the year 2020-21. Compared to 2014-15, the overall production in Khadi and Village Industry sectors in 2021-22 registered a whopping growth of 172 per cent while the gross sales during this period increased by over 248%.

This massive turnover of KVIC has come despite the partial lockdown that was in place in the country last year from April to June, caused by the second wave of the Covid-19 pandemic.

The Khadi sector has registered a growth of 43.20% from `3,528 crore in 2020-21 to `5,052 crore in 2021-22.

On the other hand, the turnover in the Village Industry sector alone has reached `1,10,364 crores in 2021-22, as compared to `92,214 crore in the previous year. In the last eight years, the production in the Village Industry sector in 2021-22 has increased by 172%, while the sales have increased by 245%.

KVIC Chairman Vinai Kumar Saxena said, “Khadi’s phenomenal growth has come due to the constant support of Prime Minister Narendra Modi to promote Khadi in the country. At the same time, innovative schemes, creative marketing ideas and active support from various ministries have also added to Khadi’s growth in recent years.??? Khadi’s single-day sale at its flagship store at Connaught Place in New Delhi also reached an all-time high of `1.29 crore on October 30, 2021.