Now khadi MSMEs introduce footwear even as KVIC eyes capturing Rs 5,000 crore market

By: |
October 21, 2020 6:45 PM

MSME Minister Nitin Gadkari urged KVIC to develop alternatives to leather accessories including ladies’ handbags, purse, wallet in handcrafted Khadi fabric.

khadi and village industries commission launches khadi fabric footwear in indiaKVIC has introduced the footwear in 15 designs for ladies and 10 designs for men made from khadi products.

Ease of Doing Business for MSMEs: After apparels, masks, food items, personal care products, and more, Khadi MSMEs have now introduced the khadi fabric footwear under Khadi and Village Industries Commission (KVIC). The range was launched by MSME Minister Nitin Gadkari on Tuesday. The minister, launching the online sale of footwear through KVIC’s portal, stressed on its potential to capture the international market, generate additional employment and higher income for khadi artisans. “By developing and marketing such products overseas, Khadi India can capture a market worth Rs 5,000 crore,” Gadkari said urging KVIC to develop alternatives to leather accessories including ladies’ handbag, purse, wallet in handcrafted Khadi fabric.

KVIC has introduced the footwear in 15 designs for ladies and 10 designs for men made from khadi products such as patola silk of Gujarat, Banarasi silk, Madhubani-printed silk of Bihar, Khadi denim, tweed wool, and khadi poly vastra, etc. The product is priced from Rs 1,100 to Rs 3,300 per pair. “The idea behind launching Khadi Fabric Footwear was to tap the international market where a large section of international consumers are increasingly going vegan and hence, Khadi will become a preferred choice of this segment,” said Vinai Kumar Saxena, Chairman, KVIC.

Also read: Amazon, Flipkart, others sold $3.1 billion worth goods in this many days of festive season’s first sale

India’s footwear industry is worth around Rs 50,000 crore including exports worth close to Rs 18,000 crore. The initial target is to capture at least 2 per cent of this industry, added Saxena. For the ongoing festival season, the ministry had in August launched a gift box containing masks for customers to gift their families and friends. The box developed by KVIC included four handcrafted silk masks in different colours and prints. In the same month, KVIC had received a repeat order — biggest so far for the supply of 10.5 lakh high-quality face masks to the Indian Red Cross Society (IRCS). KVIC had hit Rs 88,887 crore in turnover for FY2019-20 out of which Khadi saw a 31 per cent growth from Rs 3215.13 crore in FY19 to Rs 4211.26 crore in FY20.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1ECLGS: How Modi govt’s Rs 3-lakh-crore credit scheme put Covid-hit MSMEs back on recovery track
2SaaS start-up Chargebee in unicorn club with fresh $125m funding
3Y Combinator-backed Cashfree to enable 3 million small merchants on Dukaan’s platform accept e-payments