NICDC Logistics & Infrastructure Development Board sign MoU to enhance Logistics in Gujarat (See 'Corp Brief') CPWD commemorates 170 years of dedicated service to Nation (See 'Corp Brief') Indian Seafarers to be honored for Exceptional Bravery at Sea by IMO (See 'Corp Brief') Union Minister & MOS visit Visakhapatnam Steel Plant (See 'Corp Brief') SARFAESI - laying down of heavy electrical transmission lines on a piece of land is justified in larger public interest, even when value of property would substantially depreciate : HC (See 'Legal Desk') IICA inaugurates 3-Day Directors' Certification Master Class in Ooty (See 'Corp Brief') Chouhan reviews progress of Kharif sowing (See 'Corp Brief') SARFAESI Act - DRT has no discretion to override provisions of Limitation Act and SARFAESI Act : HC (See 'Legal Desk') Paradip Port sets new record with 41.12 mn MT of Cargo Handling in First 100 Days (See 'Corp Brief') India leads Global Maritime Discourse at IMO Council Session in London (See 'Corp Brief') Companies Act - Applicant company is shell company and has attempted misappropriation of funds : HC (See 'Legal Desk') Network Planning Group evaluates five key infrastructure projects (See 'Corp Brief') IBC - Status of Financial Creditor as Assignee of Bank cannot be questioned by Appellant : NCLAT (See 'Legal Desk') IICA inaugurates 6th batch of Post Graduate Insolvency Programme (See 'Corp Brief') Govt clarifies on Biometric Aadhaar Authentication of LPG Consumers (See 'Corp Brief') Prevention of Corruption Act - PIL is not maintainable as Court in writ jurisdiction cannot remove or dismiss anyone from post of CM of NCT of Delhi : HC (See 'Legal Desk') Union Minister congratulates Assam for being best under PMSvanidhi (See 'Corp Brief') Khadi & Village Industries turnover crosses Rs 1.5 Lakh Crore for First Time (See 'Corp Brief') Arbitration Act -Writ petition is not maintainable as it does not fall under any of category to entertain writ petition : HC (See 'Legal Desk') Secretary reviews PSSCIVE's Bagless Days Guidelines (See 'Corp Brief') SEBI Act - Present appeals can be tagged with companion appeal filed by SEBI : SC (See 'Legal Desk') Manohar Lal reviews Power Sector schemes and projects in Arunachal Pradesh (See 'Corp Brief') Cr PC - order is liable to be set aside as Magistrate exceed its jurisdiction : HC (See 'Legal Desk') 6.2 Crore net subscribers joined EPFO between Sept, 2017 - March, 2024 (See 'Corp Brief') Competition Act - Matter can be set aside as Informant failed to provide clarification/comments as needed by CCI : CCI (See 'Legal Desk') Pre-Budget consultation concludes (See 'Corp Brief') Trade Marks Act - For purpose of Order VII Rule 10 of CPC, only averments made in plaint are required to be examined : HC (See 'Legal Desk') Registration Act - Documents in absence of registration and stamping are inadmissible in law : HC (See 'Legal Desk')

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