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Answer the following: Write important features of KVIC. - Organisation of Commerce and Management

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Answer in Brief

Answer the following:

Write important features of KVIC.

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Solution

Important features of KVIC are as follows:

  1. Research and Development: To face the challenge of globalisation, KVIC has introduced a number of new products range like khadi denim Jeans to cater to the need of the market. The KVIC undertakes training of sales staff for the effective marketing of the products. KVIC is taking several steps to set standards of quality to ensure the genuineness of the khadi products. KVIC signed a Memorandum of Understanding with the National Institute of Design to provide design support, services in packaging, marketing, communication, publicity, disseminating materials, and other design-related activities.
  2. Other Functions: The KVIC is charged with the planning, promotion, organization, and implementation of programs for the development of Khadi and other village industries in the rural area. It organizes a training programme for artisans engaged in Khadi and Village Industries.
  3. Marketing Promotion: In order to attract the younger generation, the KVIC is holding exhibitions, seminars, lectures in universities and colleges to disseminate knowledge of KVIC products. KVIC has also launched a massive marketing development plan to generate interest, awareness, and attraction amongst masses.
  4. Financial Assistance: It finances the projects for rural industrialization and also provides for margin money by way of subsidy. There are provisions for a higher rate of subsidies in the case of beneficiaries of the weaker section, tribal areas, and backward regions. KVIC also provides financial assistance to institutions and individuals for the development and operation of the Khadi and Village industries.
  5. Rural Development: The Khadi and Village Industries plays an important role in the development of the Indian economy, particularly in the development of rural areas. KVIC facilitates the proper utilization of natural resources in rural India for generating income for the rural masses.
  6. Employment Generation: Due to the increasing workforce, it is necessary to create employment opportunities. KVIC is labour intensive in nature. The broader objective of KVIC is to promote non-farm employment opportunities in rural areas.
  7. Entrepreneurship Development: KVIC helps to provide additional livelihood avenues to the village communities. KVIC generate self-employment opportunities through establishment of micro-enterprises by organizing traditional artisans and unemployed youth.
Concept: National Bank for Agriculture and Rural Development (Nabard)
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APPEARS IN

Balbharati Organisation of Commerce and Management (OCM) 11th Standard HSC Maharashtra State Board
Chapter 6 Institutes Supporting Business
Exercise Q.7 | Q 3 | Page 137
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