Highest Turnover by KVIC amid pandemic for 2020-21

Spread the love

New Delhi: Khadi and Village Industries Commission (KVIC) has recorded the highest gross annual turnover of Rs 95,741.74 crores for the year 2020-2021 amid the worst scenarios of the covid-19 pandemic. It jumped by 7.71% this year as compared to 2019-2020.

After the suspension of sales during the nationwide lockdown, the khadi production and sales were adversely affected, however, it slowly rose due to the initiatives taken by ‘Atmanirbhar Bharat’ and ‘Vocal for Local’. Furthermore, the innovative marketing ideas by MSMEs Minister raised the production level making a way for the successive growth of Khadi.
According to the older data, Khadi Production had an overall boost in growth by 101% and the gross sales increased by 128.66% during this period.
Various other initiatives like Khadi-e-portal, Khadi Masks, footwear, Prakritik paint, hand sanitizers added to the record of new PMEGP units, SFURTI clusters, and other historic achievements, with an increasing turnover village industry sector during the pandemic.

In comparison to 2019-20, the total production was Rs. 65,393.40 crores, the production in village industry sector increased to Rs. 70,329.67 crores for the year 2020-21. Similarly, in FY 2020-21, the sales of village industry products stood at Rs. 92,214.03 crores as compared to Rs. 84,675.29 crores in 2019-20.
During the pandemic hit, the Khadi sales saw a declination, as the activities were paused due to the massive lockdown.
A lot of positive response was shown by the people with the initiatives of ‘Aatmanirbhar Bharat’ and ‘Vocal for Local’, said KVIC Chairman Shri Vinai Kumar Saxena. This will in order bring sustainability among the artisans and unemployed youth, facing economic distress during the pandemic. Many of them also accounted for self-employment hence adding to the production and sales in this sector.
However, PM’s appeal to buy Swadeshi products added to a significant rise in sales of Khadi and village industry products.