With over 10 lakh new jobs created during the fiscal year, Khadi and Village Industries’ yearly turnover surpassed Rs. 1.5 lakh crore for the first time in FY 2023–2024, said its Chairman Manoj Kumar.
KVIC’s preliminary 2023–24 data shows that over the previous ten years, there has been a 315– per cent growth in output and a 400– per cent increase in sales. During the decade beginning in 2013–14, there was also an 81 per cent growth in the generation of new jobs.
In comparison to the financial year 2013–14, KVIC reported that sales had increased by nearly 400 per cent, production by nearly 31 per cent, and the creation of 81 per cent more new jobs, surpassing all prior records.
In 2022–2023, KVIC recorded sales of Rs. 1.34 lakh crore. KVIC claims that sales of its products have surged over the last ten fiscal years under the Modi government, reaching a peak of Rs. 1,55,673.12 crore in 2023–24 from Rs. 31,154.2 crore in 2013–14.
“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 rapidly in the market, which is reflected in the production, sales, and employment figures.
