CCPA takes action against unauthorized sale of Walkie-Talkies on E-Com Platforms (See 'Corp Brief') IBC - Status of financial creditor is granted to individual allottees u/s 5(8)(f) of IBC, but this status does not extend to society they are members of, as society is distinct juristic entity: SC (See 'Legal Desk') IICA launches registration for Post Graduate Insolvency Programme (See 'Corp Brief') IBC - 'Pre-existing dispute' capable of barring initiation of CIRP u/s 9 IBC must be genuine and supported by substantive evidence, and not moonshine defence raised merely to obstruct CIRP: SC (See 'Legal Desk') Rs 1 Lakh Crore R&D Fund to propel Deep Tech Research: Goyal (See 'Corp Brief') A&C - Mere commercial relationship or marking of emails to principal employer does not establish legal intent to bind third-party sub-vendor to main arbitration agreement: SC (See 'Legal Desk') Govt positions Tribal Healers as Partners in Tribal Health Transformation (See 'Corp Brief') A&C - High Courts cannot effectively act as appellate court, re-appreciate evidence, and substitute its own interpretation in place of arbitral award: SC (See 'Legal Desk') India's Textile & Apparel Exports maintain growth momentum amid global headwinds (See 'Corp Brief') A&C - Arbitral tribunals must first look to contract that defines legal relationship between parties: SC (See 'Legal Desk') Ministry of Coal executes Agreements for 3 Blocks with Damodar Valley Corporation (See 'Corp Brief') IBC - Directors/ promoters cannot be exposed to personal liability through execution, in absence of prior and reasoned determination justifying disregard of corporate personality: SC (See 'Legal Desk') Govt prioritising data-driven, city-specific weather forecasting for public safety: MoS (See 'Corp Brief') Misc - If public authority holds any information in form of data, statistics, abstracts, then applicant can have access to same under RTI Act subject to exemptions u/s 8: IBBI (See 'Legal Desk') GeM marks 7 Years of Women-led MSE Participation in Public Procurement (See 'Corp Brief') FEMA - Amount of penalty which is to be imposed by Adjudicating Authority is matter of discretion which is necessarily required to be exercised judiciously: SAFEMA (See 'Legal Desk') CAQM conducts inspection of road stretches maintained by Municipal Corporation of Faridabad (See 'Corp Brief') NFRA-IndiaAI launch Financial Reporting Compliance Challenge (See 'Corp Brief') Minister chairs Regional Conference of Labour & Industry Secretaries of States (See 'Corp Brief') PMLA - Precondition for being proceeds of crime is that property has been derived or obtained, directly or indirectly, by any person as result of criminal activity relating to scheduled offence: SAFEMA (See 'Legal Desk') Joshi concludes Abu Dhabi Visit with focus on Clean Energy Investment (See 'Corp Brief') India among top 3 startup nations with substantial number of women-led ventures: MoS (See 'Corp Brief') PMLA - Company cannot escape from liability on account of its ex-directors: SAFEMA (See 'Legal Desk') DFS Secy reviews performance of Public Sector Insurance Companies (See 'Corp Brief') Patent Agent Examination 2026 held with 5,500 Candidates (See 'Corp Brief') CCI permits Chrys Capital to pick up equity in Nash Industries (See 'Corp Brief') Arbitration and Conciliation Act - as per Sections 38 & 39 of CPC, a decree can be executed by court with competent jurisdiction, including court where respondent's assets are located: HC (See 'Legal Desk') PFRDA undertakes NPS Outreach for MSMEs at Vibrant Gujarat (See 'Corp Brief') TRAI assesses Network Quality Across Nasik and Surrounding Area (See 'Corp Brief') YUVA AI: A step towards democratising access to AI Knowledge (See 'Corp Brief') SEBI - Direct acquisition of shares in Vodafone Idea by Government, arising from conversion of interest on deferred spectrum auction and AGR dues into equity, should be exempted from mandatory open offer requirements: SEBI (See 'Legal Desk') 'Jo Vaada Kiya, Wo Nibhana Padega' - Promissory Estoppel Reaffirmed: Supreme Court Reiterates the Rules of State Accountability (See CORP EINSICHT) Strategic Alliance between ICAR and NDDB to strengthen Innovation (See 'Corp Brief') BHASHINI Samudaye: Strengthening India's Language AI Ecosystem (See 'Corp Brief') Industrial Units are entitled to disbursal of capital investment subsidy & DG Set subsidy, and State Functionary is precluded from refusing to disburse same: SC (See 'Legal Desk') Minister reviews steps to romote manufacturing of Rare Earth Permanent Magnets (See 'Corp Brief') IIT Delhi hosts Seminar on advancing Quality Assessment of Medicinal Plants (See 'Corp Brief') IPR - Importance of doctrine of 'initial interest confusion' in pharmaceutical trade, affirming that even fleeting moment of confusion at initial stage is sufficient for infringement: HC (See 'Legal Desk') Pradhan interacts with PM-YUVA 3.0 authors at World Book Fair 2026 (See 'Corp Brief') Companies Law - Sec 433 of Companies Act, 2013 , which empowers NCLT/NCLAT to apply Limitation Act, 1963, cannot be given retrospective effect to empower CLB: SC (See 'Legal Desk') Chouhan addresses Young Leaders at Viksit Bharat Dialogue 2026 (See 'Corp Brief')

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.