KSIC earns Rs. 31 crore profit in 2021-22, says Minister

KSIC earns Rs. 31 crore profit in 2021-22, says Minister

March 4, 2023

Mysore/Mysuru: The State-owned Karnataka Silk Industries Corporation (KSIC), which enjoys a reputation for manufacturing pure silk sarees, has earned a profit of Rs. 31 crore during the fiscal year 2021-22.

Minister for Sericulture, Youth Empowerment and Sports K.C. Narayanagowda said, in a press release, on Thursday that the KSIC has recovered well from the COVID pandemic-induced losses. “The Corporation registered a business turnover of Rs. 204.77 crore during 2021-22,” the Minister said.

The KSIC recorded a profit of Rs. 27.72 crore by registering a business of Rs. 153.29 crore in the financial year 2020-21.

He said that KSIC recorded this profit by expanding its business activities and by adopting technology and innovative designs. The KSIC has maintained stability in the prices of raw silk and silk thread. “Despite stiff competition from new products, Mysuru silk sarees, which are known for their purity, lightweight fabric and elegance, have stood their own in the market and remain a woman’s favourite,” the Minister said, adding that the Corporation is now focused on the production of designer sarees as part of its expansion activities.

“The Corporation has also brought many reforms in its production and marketing,” he said. The Minister further said that his Department has unleashed a slew of reform measures in sericulture activities by introducing e-weight and e-payment systems in the cocoon markets.

Gowda said KSIC manufactures authentic Mysuru silk fabrics and has introduced the latest designs. “We have replaced old designs with new ones by taking suggestions from the younger generation. We are offering custom-made designs on their silk sarees,” he added. He said there is a huge demand for Mysore silk across the world. Apart from sarees, even other products like dhotis are much sought after because of the fabric’s smoothness, the Minister said.


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