Khadi earns a King’s ransom in FY21
Despite stalled productions during the early months of covid outbreak, India’s freedom fabric records its highest ever turnover of Rs 95,000cr in last fiscal year, registering a growth of 7.71 over Fiscal year 2020.
After launching a welter of products in apparel, footwear and organic sector, the village industry is witnessing a phenomenal growth for the last couple of years. The Swadeshi Movement in India seems to have given a tremendous thrust to the nation’s Khadi Industry.
The Khadi and Village Industries Commission (KVIC) registered a turnover of more than Rs 95,000 crore in the previous fiscal year, its highest ever, it said on Thursday. Turnover stood at Rs 95,741.74 crore, a growth of 7.71% over FY20, when turnover was Rs 88,887 crore, KVIC said in a statement.
According to Vinai Kumar Saxena, chairman of KVIC, the numbers are up despite production coming to a halt for nearly three months due to the outbreak of Covid-19. “During this period, KVIC’s main focus was to create sustainable employment for artisans and unemployed youth.”
“Faced with economic distress, a large number of youths took up self-employment and manufacturing activities which increased production in the village industry sector,” Saxena added.
Employing over 6 lakh workers, Khadi India decided to turn the pandemic into an opportunity and focused on the production of khadi face masks on war-footing and it emerged like a trailblazer as people keenly look towards adopting Khadi face masks as alternatives to the regular surgical or COVID masks.
