KVIC records highest-ever turnover in fiscal 2020-21 despite pandemic

21 Jun '21

2 min read

Pic: Shutterstock

Despite the COVID-19 pandemic and production activities remaining suspended for more than three months during the nationwide lockdown last year, India’s Khadi and Village Industries Commission (KVIC) has recorded its highest-ever gross annual turnover of ₹95,741.74 crore in fiscal 2020-21 compared to ₹88,887 crore in 2019-20—a rise of 7.71 per cent.

Compared to 2015-16, the overall production in these two sectors in 2020-21 registered a growth of 101 per cent while the gross sales during this period increased by 128.66 per cent, an official release said.

A host of initiatives like launch of the khadi e-portal, khadi masks, khadi footwear, khadi natural paint and khadi hand sanitisers set up of a record number of new Prime Minister Employement Generation Programme (PMEGP) units, new clusters under the Scheme of Fund for Regeneration of Traditional Industries (SFURTI).

Compared to the production of ₹65,393.40 crore in 2019-20, the production in village industry sector increased to ₹70,329.67 crore in 2020-21. Similarly, in fiscal 2020-21, the sales of such products stood at ₹92,214.03 crore compared to ₹84,675.29 crore in 2019-20.

The production and sales in the khadi sector, however, slightly declined as spinning and weaving activities across the country took a major hit during the pandemic.

The overall production in the khadi sector in 2020-21 was worth ₹1904.49 crore compared to ₹2,292.44 crores in 2019-20, while the overall sales stood at ₹3,527.71 crore compared to ₹4,211.26 crore in the previous fiscal.

Fibre2Fashion News Desk (DS)

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