The Khadi and Village Industries Commission (KVIC), operating under the Ministry of Micro, Small, and Medium Enterprises (MSME), has achieved unprecedented success in the financial year 2023-24. Under the dynamic leadership of Prime Minister Shri Narendra Modi, KVIC has recorded remarkable growth in production, sales, and employment generation, setting new benchmarks in the sector. On Tuesday, KVIC Chairman Shri Manoj Kumar released the provisional figures for the financial year 2023-24 at Rajghat, New Delhi, revealing a historic performance that underscores KVIC’s pivotal role in India’s economic development.
Unprecedented Growth in Sales and Production
KVIC’s financial performance for 2023-24 showcases a staggering increase in both sales and production. Sales surged by an impressive 399.69%, reaching an all-time high of Rs. 1.55 lakh crore, up from Rs. 1.34 lakh crore in the previous year. This marks a monumental rise from Rs. 31,154.20 crore in 2013-14, reflecting the immense growth trajectory over the last decade. Production also saw a significant increase of 314.79%, jumping from Rs. 26,109.08 crore in 2013-14 to Rs. 1,08,297.68 crore in 2023-24. This continuous growth in production and sales is a testament to KVIC’s effective strategies and initiatives.
Record Employment Generation
In terms of employment, KVIC has made substantial strides. The commission created 10.17 lakh new jobs in rural areas in 2023-24, marking an 80.96% increase from 5.62 lakh new jobs in 2013-14. The cumulative employment has also seen a notable rise, growing from 1.30 crore in 2013-14 to 1.87 crore in 2023-24, an increase of 43.65%. These figures highlight KVIC’s crucial role in strengthening the rural economy by providing significant employment opportunities.
Impact of Khadi on Rural and Urban Markets
Chairman Shri Manoj Kumar attributes this historic achievement to the inspiration drawn from Mahatma Gandhi and the “Modi’s Guarantee.” He emphasizes that Prime Minister Modi’s “Brand Shakti” has greatly enhanced the public’s confidence in Khadi products, transforming them into a new status symbol, particularly among the youth. “The demand for Khadi and village industry products is increasing rapidly in the market, which is reflected in the production, sales, and employment figures,” Kumar stated.
The promotion of Khadi by Prime Minister Modi, especially from platforms like Bharat Mandapam and Rajghat during the G-20 summit, has had a significant impact. The world community has taken notice of Khadi, driving its demand and popularity both domestically and internationally.
Milestones in Khadi Fabric Production and Sales
KVIC has also set new records in Khadi fabric production and sales. Production rose by 295.28%, from Rs. 811.08 crore in 2013-14 to Rs. 3,206 crore in 2023-24. Similarly, sales of Khadi fabrics skyrocketed by 500.90%, from Rs. 1,081.04 crore in 2013-14 to Rs. 6,496 crore in 2023-24. The previous year, 2022-23, saw sales of Rs. 5,942.93 crore, demonstrating a continuous upward trend.
Success of Khadi Gramodyog Bhavan New Delhi
The Khadi Gramodyog Bhavan in New Delhi has also witnessed significant growth. Its business increased by 87.23% over the past decade, from Rs. 51.13 crore in 2013-14 to Rs. 95.74 crore in 2023-24. The financial year 2022-23 recorded a business of Rs. 83.13 crore, indicating a robust growth trajectory.
Future Vision and Contribution to ‘Developed India 2047’
The remarkable performance of KVIC under Prime Minister Modi’s leadership is not just a testament to effective governance but also a significant contribution towards the vision of a ‘Developed India’ by 2047. KVIC’s efforts are paving the way for India to become the third-largest economy in the world.
Chairman Manoj Kumar highlighted that the transformative changes and strategic decisions made under Prime Minister Modi’s guidance have resulted in these exceptional achievements. He expressed confidence that the trust in ‘Make in India,’ ‘Vocal for Local,’ and ‘Swadeshi products’ will continue to grow, driving further success for KVIC and contributing to India’s economic prosperity.
