Khadi and Village Industries Turnover Crosses Rs. 1.5 Lakh Crore for the First Time
As India progresses towards becoming the third-largest economy in the world, the contributions of KVIC in empowering rural artisans and promoting indigenous products will continue to play a crucial role in the nation's economic development.
The Khadi and Village Industries Commission (KVIC), operating under the Ministry of Micro, Small, and Medium Enterprises, has set unprecedented records in production, sales, and employment generation for the financial year 2023-24. KVIC Chairman Manoj Kumar announced these provisional figures, highlighting the significant strides made compared to the financial year 2013-14.
In the financial year 2023-24, KVIC witnessed an astounding 399.69% increase in sales and a 314.79% increase in production compared to 2013-14. Sales soared to over Rs. 1.55 lakh crore, surpassing the Rs. 1.34 lakh crore recorded in the previous financial year. This monumental growth from Rs. 31,154.20 crore in 2013-14 to Rs. 155,673.12 crore in 2023-24 marks the highest sales level in KVIC's history.
Production of Khadi and village industry products saw a significant jump from Rs. 26,109.08 crore in 2013-14 to Rs. 108,297.68 crore in 2023-24, reflecting a 314.79% increase. This continuous rise is a testament to the effective implementation of policies and initiatives under Prime Minister Modi's guidance.
KVIC's efforts have created 10.17 lakh new jobs in rural areas in 2023-24, an increase of 80.96% compared to 2013-14. This achievement is a significant contribution to the rural economy, strengthening it by providing sustainable employment opportunities. The total employment provided by KVIC rose from 1.30 crore in 2013-14 to 1.87 crore in 2023-24, a 43.65% increase.
The production and sales of Khadi fabrics have also witnessed impressive growth. Production surged from Rs. 811.08 crore in 2013-14 to Rs. 3,206 crore in 2023-24, a 295.28% increase. Sales saw an even more remarkable rise, growing from Rs. 1,081.04 crore in 2013-14 to Rs. 6,496 crore in 2023-24, an increase of 500.90%.
Prime Minister Modi's endorsement of Khadi has played a pivotal role in this growth. His promotion of Khadi on national and international platforms, such as during the G-20 summit, has significantly boosted its demand, making it a fashionable choice among the youth and a symbol of national pride.
Over the past decade, KVIC has consistently set new records in sales and production of Khadi and village industry products. The business of Khadi and Gramodyog Bhavan in New Delhi also saw substantial growth, with revenues increasing by 87.23% from Rs. 51.13 crore in 2013-14 to Rs. 95.74 crore in 2023-24.
KVIC Chairman Manoj Kumar attributes this historic achievement to the inspiration from Mahatma Gandhi, the visionary leadership of Prime Minister Modi, and the relentless efforts of millions of artisans working in remote villages. The figures reflect the increasing trust and confidence of the people in 'Make in India,' 'Vocal for Local,' and 'Swadeshi' products.
The remarkable performance of KVIC aligns with Prime Minister Modi's vision of a 'Developed India' by 2047. The consistent growth in production, sales, and employment generation over the past decade showcases the positive outcomes of strategic decisions and reforms aimed at boosting Khadi and village industries.
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