BANKING AND ECONOMY
Under the FMCG category, the Khadi and Village Industries Commission (KVIC) has become the first organization in India to have aturnover of over Rs 1 lakh crores during the FY 2021-22. With this growth, the company stands far ahead of all FMCG companies in the country.
The company’s turnover surged to Rs 1,15,415.22 crores in the financial year 2021-22. This is surged by 20.54% as compared to Rs 95,741.74 crores recorded in the previous year 2020-21.
Compared to the year 2014-15, the overall production in Khadi and Village Industry sectors in 2021-22 has registered a whopping growth of 172% while the gross sales during this period increased by over 248%.
As per the data from the Ministry of Micro, Small & Medium Enterprises, in the last 8 years, i.e. from 2014-15, the production in the Khadi sector in 2021-22 has increased by 191%, while the Khadi sales have increased exponentially by 332%.
The sales of Khadi and village industry products grew significantly following the Prime Minister’s appeal to achieve self-reliance by promoting Swadeshi products. The highest single-day sale (on 30th October 2021) of Khadi at Connaught Place in New Delhi reached the all-time high of Rs 1.29 crores.
In the past two years, the KVIC’s main focus has been to create sustainable employment for artisans and unemployed youth.