For the fiscal year ending March 2022, Khadi and Village Industries Commission (KVIC) set a new high of Rs 1.15 lakh crore, making it the first fast-moving consumer goods (FMCG) firm in the country to do so. In 2021-22, KVIC’s revenue increased by 20.54 percent year on year to Rs 1,15,415.22 crore, up from Rs 95,741.74 crore in 2020-21.
According to data from the state-owned organisation, overall output in the khadi and village industry sectors climbed by 172 percent between 2014-15 and FY22, while gross sales increased by nearly 248 percent.
PM Narendra Modi’s consistent backing and pleas to go ‘swadeshi’, according to KVIC chairman Vinai Kumar Saxena, were vital to this growth story. ‘Hon’ble PM’s repeated appeals to achieve self-reliance by promoting ‘swadeshi’ and particularly ‘khadi’ has done wonders’, Saxena said, adding, ‘Today, khadi stands far ahead of all FMCG companies in the country. By employing new scientific methods and diversifying khadi’s product range, KVIC has succeeded in achieving such massive growth which no other FMCG company can match’.
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In FY22, the khadi sector grew by 43 percent to Rs 5,052 crore, up from Rs 3,528 crore in 2020-21. The village industries sector rose by 20 percent in 2021-22, from Rs 92,214 crore the previous year to Rs 1,10,364 crore.
According to Saxena, a variety of creative concepts, plans and scientific approaches have aided in diversifying the product range and generating consumer interest.
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