Khadi and Village Industries’ annual turnover crossed Rs 1.5 lakh crore for the first time in FY 2023-24 with over 10 lakh new jobs generated during the fiscal, its Chairman Manoj Kumar said on Tuesday. According to provisional figures for 2023-24 released by KVIC, a 315 per cent increase in production and a 400 per cent rise in sales were registered in the last 10 years.
New employment generation also witnessed an 81 per cent increase during the decade starting from 2013-14. “For the first time, over 10 lakh new jobs were created and our turnover crossed Rs 1.5 lakh crore in 2023-24,” Kumar said.
Surpassing all previous figures, there has been an increase of almost 400 per cent in sales, nearly 315 per cent in production, and 81 per cent in new employment generation compared to the financial year 2013-14, KVIC stated. KVIC’s sales were Rs 1.34 lakh crore in 2022-23.
“The production of Khadi and village industry products, which was Rs. 26,109.08 crores in the financial year 2013-14, reached Rs. 108,297.68 crores in the financial year 2023-24, a jump of 314.79 per cent, while the production in the financial year 2022-23 was Rs. 95956.67 crores. This continuously increasing production is strong evidence that the Khadi and Village Industries Commission has done historical work in rural areas,” KVIC said
“In the financial year 2023-24, KVIC’s efforts have created 10.17 lakh new jobs in rural areas, strengthening rural India’s economy,” it stated. The KVIC Chairman said the demand for Khadi and village industry products made by rural artisans is increasing.
