KVIC clocks record Rs 1.15 lakh crore turnover

Khadi and Village Industries Commission (KVIC) has clocked a record turnover of Rs 1.15 lakh crore for the year ended March 2022, making it the only fast-moving consumer goods (FMCG) company in the country to reach Rs 1 lakh-crore turnover. KVIC’s turnover for 2021-22 grew 20.54% year on year at Rs 1,15,415.22 crore against Rs 95,741.74 crore in 2020-21.

As per the state-owned entity’s data, overall production in khadi and village industry sectors registered a growth of 172% between 2014-15 and FY22, while gross sales during this period increased by over 248%.

KVIC chairman Vinai Kumar Saxena said PM Narendra Modi’s constant support and appeals to go ‘swadeshi’ were critical to this growth story. “Hon’ble PM’s repeated appeals to achieve self-reliance by promoting ‘swadeshi’ and particularly ‘khadi’ has done wonders,” Saxena said.

“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.”

In FY22, the khadi sector recorded 43% growth at Rs 5,052 crore against Rs 3,528 crore in 2020-21. The village industries sector grew 20% to reach Rs 1,10,364 crore in 2021-22 from Rs 92,214 crore the previous year.

Arange of innovative ideas, schemes and scientific methodology have helped diversify the product range and generate market interest, Saxena said.