KVIC IN FOR ENHANCING ITS MARKET SHARE TO 5% IN NEXT 2-3 YEARS, SAYS ITS CEO AT PHD CHAMBER STARTUPS SUMMIT-2016

Khadi & Village Industries Commission (KVIC) which currently handles a business turnover of about Rs.30,000 crores has set for itself a modest target of increasing its market share in KVIC promoted products from existing 1% to 5% in next 2-3 years, given their market demand in view of enhanced quality of KVIC products, according to its CEO, Mr. Arun Kumar Jha.

Addressing a Startup Summit-2016 under aegis of PHD Chamber of Commerce and Industry here today, Mr. Jha said, “the problem that the KVIC is presently grappling with is on supply side and not on demand factor and it one of the reasons that the KVIC has been concentrating on is its production facilities across the country through the help of all its supply chain agencies”. 

With demand of KVIC products on gradual increasing trajectory and the government’s supportive policies towards promotion of khadi products within and outside India, the Commission has set a target of hiking its market share to a level of 5% in next 2-3 years with its participation, involvement and partnership spirits with evolving disruptive innovations for the sector’s betterment, said Mr. Jha.

“KVIC which falls under the jurisdiction of Ministry of MSME is also at the advanced stage for finalizing incentives and sops for start-ups in the MSME segment to share their ideas and technological innovations so that this segment of the Indian economy transforms to the intended level as it is one of the backbones  of the Indian economy”, said Mr. Jha pointing out that the government is likely to notify these from April 2016.

The Startup Summit-2016 organized here by the PHD Chamber of Commerce and Industry had participation from evolving start-ups such as Mr. Paritosh Sharma, Head, Channel Partnerships, PayUMoney; Dr. Ajay Data, Founder & CEO, Datainfosys Ltd. & Chairman, Rajasthan Committee, PHD Chamber; Mr. Romesh Sharma, Founder CEO, SIMPLIFLYERS Solutions;  Mr. Ashu Agarwal, Director, BW Accelerate among others.

The Summit was chaired by Mr. Deepak Pahwa, Chairman, Innovation Committee, PHD Chamber in which the vote of thanks was delivered by Dr. Jatinder Singh, Sr. Secretary, PHD Chamber.