India moving from Healthcare Follower to Global Leader in Precision Medicine and Biomanufacturing: MoS (See 'Corp Brief') SECL's Vigilance-led Initiative 'Prayas' Ensures Timely PF & Pension Settlement (See 'Corp Brief') Agrinnovate India presents Rs.3.4 Crore dividend to Chouhan (See 'Corp Brief') 6 Railway Stations in West Bengal redeveloped under Amrit Bharat Station Scheme (See 'Corp Brief') NHAI receives warm response from Bidders for Construction of Kaliabor to Numaligarh Section of NH (See 'Corp Brief') MSDE signs MoU with GATI Foundation to Strengthen Global Skill Mobility (See 'Corp Brief') DFS Secy meets NBFCs to discuss targeted points pertaining to the sector (See 'Corp Brief') 41% of India's Scientists are Women: Chouhan Highlights women Agri-Power (See 'Corp Brief') Companies Act - Technical provisions of Companies Act cannot be relied on to evade compliance with a Court decree prohibiting the judgment debtor from transferring the shares to any third party: HC (See 'Legal Desk') IBA hosts RRB Conclave 2026 on 'Next-Gen Reforms for RRBs' (See 'Corp Brief') MoEFCC organizes Workshop to address Challenge of Elephant-train Collisions (See 'Corp Brief') Govt, Civil Society & Tech leaders unite to build Model for Persons with Hearing Impairment (See 'Corp Brief') PMLA - Appearance of Appellant, ordinarily operating in Mumbai, before SAFEMA Appellate Tribunal at Delhi, does not confer territorial jurisdiction to the Delhi High Court over Appellant: HC (See 'Legal Desk') NHAI gets warm response from Bidders for Four-Laning of Dhamasiya-Bitada in Gujarat (See 'Corp Brief') Metro in India a 'Silent Revolution' transforming Urban Mobility and Society (See 'Corp Brief') CCI approves acquisition by Cube V of road asset business of DYIPL, DVIPL, DGIPL and DTEHPL (See 'Corp Brief') CCI approves acquisition of stake in Curefit Healthcare by MacRitchie Investments (See 'Corp Brief') IBC - Once Resolution Plan is approved by NCLT u/s 31 of IBC, it becomes binding on all stakeholders, and all claims not provided for in plan stand extinguished: HC (See 'Legal Desk') Country ready for any Unprecedented Demand for Coal: Govt (See 'Corp Brief') DPIIT signs MoU with Voltas Limited to support Industry-Start-up Collaboration for Smart Appliance Technologies (See 'Corp Brief') New Delhi Frontier AI Impact Commitments were Signed by 13 Leading Model Providers (See 'Corp Brief') APEDA showcases Agri and Processed Food Export Strength at AAHAR 2026 (See 'Corp Brief') IPR - Party seeking cancellation of registered trademark on grounds of similarity and prior rights must first establish its own prior and continuous use of its mark as trademark: HC (See 'Legal Desk') Capacity Building Commission hosts workshop on sustainable financing & resource mobilisation (See 'Corp Brief') Govt boosts Credit Flow to Agriculture Sector through targeted Policy Measures (See 'Corp Brief') IBC - Application of Discount for Lack of Marketability is permissible valuation methodology under Indian Accounting Standards for determining fair value of unlisted, illiquid shares in context of capital reduction: SC (See 'Legal Desk') IICA holds 4th Batch of Directors' Certification for Defence Officers (See 'Corp Brief') Financial inclusion campaign was held in 2.7 lakh Gram Panchayats and ULBs (See 'Corp Brief') A&C - Award can be set aside only on specific grounds such as being contrary to fundamental policy of Indian law, violating basic notions of morality or justice, or suffering from patent illegality that goes to root of matter: HC (See 'Legal Desk') ICANN85 in Mumbai highlights Collaboration for resilient Internet (See 'Corp Brief') Minister chairs 35th Meeting of Standing Committee of Voluntary Agencies (See 'Corp Brief') A&C - amendment to petition filed u/s 34 of Arbitration Act, cannot be permitted under Order VI Rule 17 of CPC if its effect is to introduce challenge to distinct part of arbitral award: HC (See 'Legal Desk') NITI Aayog convenes Regional Best Practices Seminar (See 'Corp Brief') FTAs opening New Opportunities for Pharma, Healthcare and MedTech Sectors: Goyal (See 'Corp Brief') MSME Ministry promotes Energy Efficiency and Green Practices in MSME Sector (See 'Corp Brief') Transforming Mined Landscapes: NLC India's Journey in Sustainable Mine Restoration (See 'Corp Brief') IEPFA-NCAER jointly organise Investor Education and Protection Workshop (See 'Corp Brief') IPR - Proprietorship of trademark, as general rule, vests in manufacturer who affixes mark on product, not in importer or distributor of those goods: HC (See 'Legal Desk') Chouhan holds post-Budget discussion with coconut farmers in Chennai (See 'Corp Brief') IBC - Creditor cannot be forced to elect its remedy or apportion its claim between principal debtor and guarantor: SC (See 'Legal Desk') IBC - Judicial review by NCLT & NCLAT does not extend commercial wisdom of Committee of Creditors in evaluating and approving resolution plan: SC (See 'Legal Desk') A&C - Pre-award and post-award interest operate in distinct fields and contractual bar applicable to former cannot, by implication, be extended to latter: SC (See 'Legal Desk') MoS interacts with beneficiaries of desalination plant in Kavaratti (See 'Corp Brief') A&C - Court will not grant specific performance of contractual obligation that is contingent upon discretionary approval of third-party government authority: HC (See 'Legal Desk') A&C - Contractual clause that expressly and widely bars payment of interest on ‘any moneys due to contractor' prohibits arbitral tribunal from awarding pre-reference and pendente lite interest on all claims: HC (See 'Legal Desk') Supreme Court Clears Path For Single Insolvency Proceedings Against Linked Group Companies (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.