KVIC Sets New Records in Production, Sales, and Employment for FY 2023-24 Under PM Modi’s Leadership.

Under the visionary leadership of Prime Minister Narendra Modi, the Khadi and Village Industries Commission (KVIC) has achieved unprecedented milestones in the financial year 2023-24. The KVIC, part of the Ministry of Micro, Small, and Medium Enterprises, has reported significant achievements in production, sales, and new employment generation.

KVIC Chairman Manoj Kumar announced today that KVIC has set new records with a staggering 399.69% increase in sales, a 314.79% rise in production, and an 80.96% boost in new job creation compared to the financial year 2013-14. In comparison to the financial year 2022-23, there was an increase of 332.14% in sales, 267.52% in production, and 69.75% in employment generation.

Chairman Kumar highlighted that this exceptional performance is a significant step towards realizing India’s vision of becoming a developed nation by 2047 and achieving the goal of becoming the world’s third-largest economy. For the first time in independent India’s history, KVIC’s product sales have exceeded ₹1.55 lakh crore in FY 2023-24, compared to ₹1.34 lakh crore in FY 2022-23. Over the past decade under the Modi Government, sales of Khadi and village industry products have surged from ₹31,154.20 crore in 2013-14 to a record ₹1,55,673.12 crore in 2023-24.

KVIC’s efforts have also resulted in the creation of 10.17 lakh new jobs in rural areas, a remarkable achievement that strengthens the rural economy. The Chairman attributed this success to Prime Minister Modi’s support, the inspiration from Mahatma Gandhi, and the dedication of millions of artisans in remote villages.

Shri Kumar noted that Prime Minister Modi’s endorsement has significantly boosted public confidence in Khadi products, turning Khadi into a symbol of fashion and status for the youth. The increased demand for Khadi and village industry products is reflected in the record production, sales, and employment figures.

In terms of production, Khadi and village industry products saw a 314.79% increase from ₹26,109.08 crore in 2013-14 to ₹1,08,297.68 crore in 2023-24, compared to ₹95,956.67 crore in FY 2022-23. The production of Khadi fabrics alone rose from ₹811.08 crore in 2013-14 to ₹3,206 crore in 2023-24, marking a 295.28% increase. Sales of Khadi fabrics soared from ₹1,081.04 crore in 2013-14 to ₹6,496 crore in 2023-24, a remarkable 500.90% growth.

Shri Kumar also praised the global recognition Khadi has received, especially following Prime Minister Modi’s promotion of Khadi during the G-20 summit, which has drawn international attention to Khadi.

KVIC’s primary mission is to create employment opportunities in rural areas. Over the past decade, cumulative employment has increased from 1.30 crore in 2013-14 to 1.87 crore in 2023-24, a 43.65% rise. Additionally, new job creation has surged from 5.62 lakh in 2013-14 to 10.17 lakh in 2023-24, an 80.96% increase. Notably, 4.98 lakh rural Khadi artisans (spinners and weavers) are now engaged in Khadi fabric production.

KVIC’s achievements reflect the success of the “Make in India,” “Vocal for Local,” and “Swadeshi” initiatives, demonstrating the growing trust in indigenous products and efforts towards a self-reliant India.

Summary of Key Achievements:

• Sales Increase: 399.69% from ₹31,154.20 crore (2013-14) to ₹1,55,673.12 crore (2023-24).
• Production Growth: 314.79% from ₹26,109.08 crore (2013-14) to ₹1,08,297.68 crore (2023-24).
• New Employment: 80.96% increase, with 10.17 lakh new jobs created in FY 2023-24.
• Khadi Fabric Production: 295.28% increase, from ₹811.08 crore (2013-14) to ₹3,206 crore (2023-24).
• Khadi Fabric Sales: 500.90% increase, from ₹1,081.04 crore (2013-14) to ₹6,496 crore (2023-24).