MSMEs and the Indian Economy: An analysis under Khadi and Village Industries Commission (KVIC)

Micro, Small, and Medium Enterprises (MSMEs) contribute the maximum portion of the Indian economy with their wider networks. In the present era, they play a valuable role in the growth and development with their specific operational nature. With low capital investment, they are spread throughout the country, creating employment opportunities, reducing regional imbalances, and improving livelihoods. MSMEs work with their statutory body, the Khadi and Village Industries Commission (KVIC), as a major wing. The activities of Khadi and Village Industries (KVI) are the main sources of livelihood for urban and rural people, including spinners, weavers, handcrafts, and other artisans spread throughout the country. Khadi and Village Industries (KVI) provide employment in both sectors, in rural areas in general, and in urban areas through District Industries Centers (DIC). Khadi and Village Industries programs are implemented through thirty-four states/union territories, 2775 KVI institutions, and Khadi and Village Industries Boards. KVI sectors play a vital role in production, employment generation, exports of products, decreasing poverty, and also have an important place in contributing to the economic development of the country. The aim of this paper is to analyze the performance of the Khadi and Village Industries Commission in terms of production and sales, and focus on its growth and prospects.