The Ministry of Statistics and Programme Implementation (MoSPI) on Wednesday released the Annual Survey of Industries (ASI) 2023-24, showing a steady rise in employment, investments, and output in India’s industrial sector.
According to the report, employment in industries grew by 5.92% to 1.95 crore in 2023-24, up from 1.84 crore in 2022-23.
The survey revealed that invested capital in industries increased to ₹68,01,329 crore in 2023-24, compared to ₹61,39,212 crore in 2022-23.
At the same time, the Gross Value Added (GVA) in industries rose by 11.9% to ₹24,58,336 crore in 2023-24, up from ₹21,97,056 crore in the previous fiscal.
GVA represents the additional value created in production and is calculated by deducting the value of total inputs from total outputs.
Over 57 Lakh New Jobs Added In Last Decade
The ASI report stated that industries added more than 57 lakh jobs between 2014-15 and 2023-24, highlighting the sector’s critical role in employment generation.
The top five industries contributing to GVA are basic metals, motor vehicles, chemical and chemical products, food products, and pharmaceuticals.
In terms of employment, Tamil Nadu, Gujarat, Maharashtra, Uttar Pradesh, and Karnataka emerged as the leading states.
The Annual Survey of Industries provides detailed insights into the composition, growth, and structure of India’s manufacturing sector, covering aspects like output, value addition, employment, and capital formation.
The ASI broadly covers factories, bidi and cigar manufacturing units, electricity utilities, and establishments with 100 or more employees registered in the Business Register of Establishments maintained by state governments.
MoSPI said the survey results provide valuable inputs to the National Accounts Statistics at both the national and state levels.
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