KVIC turnover crosses Rs 1.5 lakh cr, 10 lakh jobs created in FY24: Chairman

New Delhi: Khadi and Village Industries‘ annual turnover crossed Rs 1.5 lakh crore for the first time in FY 2023-24 with over 10 lakh new jobs generated during the fiscal, its Chairman Manoj Kumar said on Tuesday. According to provisional figures for 2023-24 released by KVIC, a 315 per cent increase in production and a 400 per cent rise in sales were registered in the last 10 years.

New employment generation also witnessed an 81 per cent increase during the decade starting from 2013-14.

“For the first time, over 10 lakh new jobs were created and our turnover crossed Rs 1.5 lakh crore in 2023-24,” Kumar told PTI.

Surpassing all previous figures, there has been an increase of almost 400 per cent in sales, nearly 315 per cent in production, and 81 per cent in new employment generation compared to the financial year 2013-14, KVIC stated.

KVIC’s sales were Rs 1.34 lakh crore in 2022-23.

According to KVIC, sales of its products in the last ten financial years of the Modi Government have increased from Rs 31,154.2 crore in 2013-14 to the highest level of Rs 1,55,673.12 crore in 2023-24. “In the financial year 2023-24, KVIC’s efforts have created 10.17 lakh new jobs in rural areas, strengthening rural India‘s economy,” it stated.

The KVIC Chairman said the demand for Khadi and village industry products made by rural artisans is increasing rapidly in the market, which is reflected in the production, sales, and employment figures.