India Showcases Climate Progress at WTO Environment Week (See 'Corp Brief') World Environment Day 2026 launches SOP of Solid Waste Management Rules, 2026 (See 'Corp Brief') Sovereign guarantee extended to ship owners; insurance made affordable for maritime trade (See 'Corp Brief') CM, Union ministers open 18 'Namo Oxygen Parks' to boost green cover (See 'Corp Brief') Government expands specified securities under FAR to include new issuances in Sovereign Green Bonds (See 'Corp Brief') Yogasana Championship 2026, Sports Capital, Ahmedabad (See 'Corp Brief') Govt announces ANRF portal for training in patent filing (See 'Corp Brief') Government Targets 75 Lakh Rooftop Solar Households by End-2026 (See 'Corp Brief') IBC - Admission of claim by IRP/RP during CIRP does not amount to acknowledgment of liability u/s 18 of Limitation Act: SC (See 'Legal Desk') Millet Functional Foods Make Sea Export Debut (See 'Corp Brief') India-UK critical minerals Global Supply Chain observatory launched (See 'Corp Brief') West Bengal set to become eastern India's Maritime Hub with Rs 19,209 crore investment plan (See 'Corp Brief') IBC - Disputes raised by Corporate Debtor, including MSME-related objections, alleged irregularity in NPA classification, pending arbitration, do not defeat admission once debt and default are established: NCLT (See 'Legal Desk') CCI Clears DAE's Acquisition of Macquarie AirFinance (See 'Corp Brief') CCI okays UPL group's crop protection businesses reorganisation (See 'Corp Brief') IBC - By virtue of Section 238, IBC overrides Electricity Act, 2003 and allied state electricity recovery laws to extent of inconsistency: HC (See 'Legal Desk') India, South Africa Deepen Ties in AI and Future Technologies (See 'Corp Brief') India-Oman Comprehensive Economic Partnership Agreement (See 'Corp Brief') NPCI International, ACLEDA Bank launch cross-border UPI payments in Cambodia (See 'Corp Brief') IBC - An application u/s 9 not maintainable when operational debt & its basis are doubtful & unsupported by cogent evidence: NCLT (See 'Legal Desk') Centre-States partnership advances reforms for sustainable rural water delivery (See 'Corp Brief') Embrace AI and Emerging Technologies, but Keep Compassion: Nadda (See 'Corp Brief') Governor of Telangana interacts with Meghalaya student delegation (See 'Corp Brief') Digital India BHASHINI, Current AI & Kalpa Impact launch VYOMA Innovation Challenge (See 'Corp Brief') Companies Act - Auditor's remark stating that company has an internal audit system which needs to be strengthened, does not amount to 'qualification', and failure to furnish explanation on such remark does not attract penal liability: HC (See 'Legal Desk') Chouhan launches 'Khet Bachao Abhiyan' from Raisen, MP (See 'Corp Brief') PMLA - Special Courts under PMLA cannot take cognizance of prosecution complaint without first giving accused opportunity of hearing, as mandated under first proviso to Sec 223(1) of BNSS: SC (See 'Legal Desk') Gadkari reviews quality of NH Projects in West Bengal and AP (See 'Corp Brief') Digital India BHASHINI & DPIIT sign MoU for Multilingual Access Across India's Investment Ecosystem (See 'Corp Brief') NI Act - After adoption of electronic clearance system, cheque return memo or bank endorsement need not bear seal or signature to be acted upon under Sections 138 and 146: HC (See 'Legal Desk') National Workshop on R&D in Water to drive Bharat's Next Wave of Water Innovation (See 'Corp Brief') PM SVANidhi completes Six Years of Empowering Street Vendors (See 'Corp Brief') DCA reviews implementation of Legal Metrology Reforms in N-E and UTs (See 'Corp Brief') Raksha Mantri & UP Chief Minister inaugurate 'Nausena Shaurya Vatika' in Lucknow (See 'Corp Brief') IBC - Offences u/s 68 and 235A of Code can be prosecuted only before competent Special Court in manner prescribed u/s 236 of Code: NCLT (See 'Legal Desk') A Highway bringing New Possibilities to Heart of Central India: Boregaon to Shahpur (See 'Corp Brief') National Biodiversity Authority realises Rs. 21.26 Crore through Benefit Sharing Mechanism (See 'Corp Brief') Ayushman Bharat Digital Mission crosses Landmark Milestone of 90 Crore ABHA Accounts (See 'Corp Brief') SEBI - Assessee's request for inspection of documents cannot be allowed where these form part of SEBI's internal administrative process & are not necessary for replying to SCN: SAT (See 'Legal Desk') Moratorium under the IBC (See CORP EINSICHT)

Print

Khadi & Village Industries turnover crosses Rs 1.5 Lakh Crore for First Time

Published: Jul 10, 2024

By TIOLCorplaws News Service

NEW DELHI, JULY 10, 2024: UNDER the leadership of Prime Minister Narendra Modi, the Khadi and Village Industries Commission (KVIC), Ministry of Micro, Small and Medium Enterprises, has set a new record in production, sales, and new employment generation in the financial year 2023-24.

Releasing the provisional figures for the financial year 2023-24 here today, KVIC Chairman Manoj Kumar said that surpassing all previous figures, there has been an increase of 399.69 per cent (approximately 400%) in sales, 314.79 per cent (approximately 315%) in production, and 80.96 per cent (approximately 81%) in new employment generation compared to the financial year 2013-14. In the financial year 2022-23, there was an increase of 332.14% in sales, 267.52% in production, and 69.75% in new employment generation compared to 2013-14.

Kumar said, this remarkable performance of KVIC has made a significant contribution towards realizing the vision of a 'Developed India' by 2047 and making India the third-largest economy in the world. He said, for the first time in the history of independent India, the sales of KVIC products have crossed Rs. 1.55 lakh crore in the financial year 2023-24. The sales figure in the financial year 2022-23 was Rs. 1.34 lakh crore. In the last ten financial years of the 'Modi Government,' the sales of indigenous Khadi and village industry products made by artisans in rural areas, which were Rs. 31154.20 crore in the financial year 2013-14, have increased to the highest level of Rs. 155673.12 crore in the financial year 2023-24, which is the greatest achievement so far. In the financial year 2023-24, KVIC's efforts have created 10.17 lakh new jobs in rural areas, strengthening rural India's economy.

KVIC Chairman has attributed this historic achievement to the inspiration of revered Bapu, the guarantee of Prime Minister Narendra Modi, and the tireless efforts of crores of artisans working in remote villages of the country. He said that Prime Minister Narendra Modi's endorsement of Khadi  has increased people's confidence in Khadi products. Khadi has become a 'new status symbol' of fashion for the youth. The demand for Khadi and village industry products is increasing rapidly in the market, which is reflected in the production, sales, and employment figures. He further said that in the last ten years, major changes and decisions have been taken under the guidance of Prime Minister Narendra Modi to increase the production of Khadi and village industries, which are yielding positive results. He further said that these figures are proof that the trust of the people of the country has increased in 'Make in India,' 'Vocal for Local,' and 'Swadeshi products.'

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.