Ease of Doing Business for MSMEs: The turnover has increased from Rs 31,354 crores in 2013-14 to Rs 1,34,630 in 2022-23, registering a three-fold increase over these years.
Ease of Doing Business for MSMEs: Khadi and Village Industries Commission (KVIC) has reported a whopping 332 per cent growth in sales in the last nine years. According to the statement by KVIC, the turnover has increased from Rs 31,354 crores in 2013-14 to Rs 1,34,630 in 2022-23, registering a three-fold increase over these years.
The increase in demand has also led to a similar impact on the products of Khadi, whose production increased from Rs 26,109 crores in FY2014 to Rs 95,957 crores in FY2023, an increase of 268 per cent, as per the statement of KVIC.
The fabric of khadi alone, which is associated with the Swadeshi movement of the Indian Freedom struggle, has witnessed a surge of 260 per cent, increasing the production from Rs 811 crores to Rs 2916 crores in the fiscal year 2023.
The capacity increase has led to job creation, particularly in the rural areas. According to KVIC, 9.54 lakh jobs in the villages were added during FY23, as compared to 5.62 new employment opportunities in FY14, an increase of over 70 per cent.
Another product under the KVIC, the coir industry has also witnessed positive growth, by reporting a record export of coir and coir products amounting to 12,34,855 MT valued at Rs 4340.05 crores. Coir exports have been increasing year on year, from Rs 2,532 crore in 2017-18 to Rs 4,340 crore in 2021-22, as per the annual report published by the Coir Board.
Similarly, exports of natural honey from India, an initiative under the Natural Beekeeping and Honey Mission, increased 2.65 times, from Rs 445 crore in FY14 to Rs 1,622 crores in FY23.
The KVIC is a statutory body under the MSME Ministry, working for the promotion of the rural economy and employment generation in the villages. Often dubbed as the Swadeshi 2.0, Prime Minister Narendra Modi has vocalized Khadi at the global level, in order to promote the local and village industry.