KVIC turnover touches nearly Rs 90k crore on PM Modi's appeal

NEW DELHI: The Khadi and Village Industries Commission (KVIC) has announced that its turnover for 2019-20 reached Rs 88,887 crore, "which no FMCG company can match", powered by the appeal of Prime Minister Narendra Modi.

This is the biggest success story of KVIC ever scripted, it said.

"The last five years under the leadership of Prime Minister Narendra Modi, has seen the widest acceptance of "brand Khadi" in India", it added.

"The total Khadi and village industries turnover in the year 2019-20, has reached whopping Rs 88,887 crore, which no FMCG company can match", KVIC said.

While the production of Khadi, the most eco-friendly product of sustainable development, has more than doubled in the last five years, since 2015-16; the sale of khadi has gone up by nearly three times during the same period.

Similarly, the village industry (VI) sector has also seen a phenomenal growth in the Modi era with production and sale going up by nearly 100 % in the last five years.

Looking at the performance in the last one year, the turnover of Khadi registered a growth of 31% from Rs 3,215.13 crore in 2018-19, to Rs 4,211.26 crore in 2019-20. The turnover of Village Industries products reached to Rs 84,675.39 crore in 2019-20, registering a growth of over 19% from the previous year, i.e. 2018-19, which was at Rs 71,077 crores.

Khadi's unprecedented growth during the Modi era can also be gauged by the fact that Khadi production since 2015-16, has grown at the average of 19.45% per annum which was merely 6.25% during the previous government from 2004 to 2014.

Similarly, Khadi's sales grew exponentially during the Modi government at the annual rate of 27.6% which remained as low as 6.65% from 2004-2014.

KVIC Chairman, Vinai Kumar Saxena attributed Khadi's phenomenal growth to the sustained efforts of Prime Minister Narendra Modi, creative marketing ideas of Minister for MSME, Nitin Gadkari and the active support from various ministries. (IANS) 

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