The Khadi and Village Industries Commission saw its annual turnover pass the Rs 1.5 lakh crore mark for the first time in the 2024 financial year. KVIC’s sales and production rates have also risen in triple digits over the past 10 years.
“For the first time, over 10 lakh new jobs were created and our turnover crossed Rs 1.5 lakh crore in 2023 to 2024,” KVIC’s chairman Manoj Kumar told the Press Trust of India. KVIC had reported a sales total of Rs 1.34 lakh crore in the 2023 financial year.
KVIC’s provisional financial figures show a 400% increase in sales over the past 10 years and a 315% increase in production over the same time period. The Indian fashion industry has seen a revival of Khadi textiles over the past decade with numerous luxury designers embracing the heritage weave. This trend is expected to continue, especially given the tandem increase in demand for more sustainable textiles.
Over the past 10 years, KVIC has boosted its employment generation by 81%. “In the financial year 2023 to 2024, KVIC’s efforts have created 10.17 lakh new jobs in rural areas, strengthening rural India’s economy,” announced KVIC in a statement, ET Bureau reported.
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