KVIC sets new record in production, sales and new employment generation in FY 2023-24
Releasing the provisional figures yesterday, KVIC Chairman Shri Manoj Kumar announced significant growth in all major parameters as compared to FY 2013-14. Sales have grown by 399.69%, reaching an all-time high of Rs 1.55 lakh crore in 2023-24 from Rs 31,154.20 crore ten years ago. Production has witnessed a growth of 314.79%, totalling Rs 1.08 lakh crore, while new employment generation has grown by 80.96%, creating 10.17 lakh jobs in rural areas.
He attributed this historic achievement to the inspiration of Mahatma Gandhi, the unwavering support of Prime Minister Shri Narendra Modi and the tireless efforts of lakhs of artisans in remote villages across India. He said that khadi has become a fashionable symbol among the youth, buoyed by the Prime Minister's advocacy at various forums, including the G-20 Summit.
Khadi clothing production grew by 295.28% from Rs 811.08 crore in 2013-14 to Rs 3,206 crore in 2023-24, while sales grew by 500.90% to Rs 6,496 crore. Employment opportunities provided by KVIC also witnessed a significant increase, from 1.30 crore cumulative jobs in 2013-14 to 1.87 crore in 2023-24, including a substantial increase in new jobs from 5.62 lakh to 10.17 lakh during the same period.
Turnover at Khadi Gramodyog Bhawan, New Delhi grew by 87.23% in the last decade from Rs 51.13 crore to Rs 95.74 crore in 2023-24, reflecting growing consumer confidence in swadeshi products and the 'Make in India' initiative. He highlighted that these achievements underline the growing trust in 'Vocal for Local' and 'Swadeshi' products, demonstrating KVIC's pivotal role in promoting rural economic development through sustainable employment and robust manufacturing practices.
KVIC's success story under the vision of Prime Minister Shri Narendra Modi sets a strong example for India's aspirations to become the third largest economy globally by 2047, reinforcing the transformative impact of indigenous industries in shaping a developed India.