News Karnataka
Thursday, December 07 2023

Mysuru: KSIC records Rs 31 Crore profit

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Mysuru: “Karnataka Silk Industries Corporation Ltd. (KSIC), which is recovering from the Covid blow, has made a profit of Rs. 31 Crore this year,” said the Minister of Silk, Youth Empowerment and Sports Dr. Narayana Gowda.

Speaking to mediapersons on Friday March 3 he said KSIC has made a turnover of Rs. 204.77 Crore and earned a profit of Rs. 31.64 Crore in the financial year 2021 – 2022. He informed that in the last financial year, it had made a profit of 27.72 Crore with a turnover of around 153.59 Crore. In all 50 Crore increase in turnover over last year. Mysore Silk saree has its own brand. Mysore Silk is in high demand both at home and abroad. KSIC is seeing an increase in revenue every year due to innovation, and adoption of modern technologies, he said.

He said that this time, more than 50 Crore was transacted compared to last year. The aim is to take more advanced measures in the Corporation and to produce sarees based on demand-based designs, he noted.

Minister Dr. Narayana Gowda has informedthat it is intended to take KSIC to greater heights through this. “A lot of improvement measures are being taken in the Silk Department. E-weighing and e-payment have been implemented so that farmers are not treated unfairly in the market. Our Government has been successful in maintaining stability in the price of raw silk and silk yarn. It has been suggested to adopt new design in silk saree production as well. Further, it has been decided to implement many new schemes including couple package to increase sales. Through this, the Silk Department and KSIC Corporation will be taken to further progress, said Minister Dr. Narayana Gowda.

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