India’s registered manufacturing sector recorded broad-based growth in 2024-25, with industrial output, employment, wages, invested capital and Gross Value Added (GVA) registering significant increases over the previous year, according to the Annual Survey of Industries (ASI) 2024-25 released by the Ministry of Statistics and Programme Implementation (MoSPI).
The number of registered manufacturing establishments increased by 2.64 per cent, from 2.60 lakh in 2023-24 to 2.67 lakh in 2024-25. Tamil Nadu recorded the highest number of establishments at 41,221, followed by Gujarat with 33,084 and Maharashtra with 27,379.
The sector’s Gross Value Added increased by 9.59 per cent, rising from Rs 24.58 lakh crore in 2023-24 to Rs 26.94 lakh crore in 2024-25. Maharashtra recorded the highest share of manufacturing GVA, followed by Gujarat, Tamil Nadu, Karnataka and Uttar Pradesh. Together, these five states accounted for more than 54 per cent of the country’s total manufacturing GVA.
Employment in the registered manufacturing sector also witnessed a strong increase during the year. The estimated number of persons engaged rose from 1.96 crore in 2023-24 to 2.10 crore in 2024-25, registering a growth of 7.19 per cent.
Total emoluments paid to workers increased by 12.08 per cent during the year. Tamil Nadu, Maharashtra, Gujarat, Uttar Pradesh and Haryana emerged as the five leading states in terms of manufacturing employment, together accounting for about 56 per cent of total employment in the sector.
The survey also recorded a 10.54 per cent increase in fixed capital. Invested capital, which includes fixed capital and physical working capital, expanded by 11.10 per cent during the survey period.
Net income increased by 9.68 per cent, while net profit registered a growth of 7.73 per cent in 2024-25. Industrial output also rose by 7.81 per cent, while total employment and emoluments increased by 7.19 per cent and 12.08 per cent, respectively.
The survey identified basic metals, motor vehicles, chemicals and chemical products, pharmaceutical products and food products as the five leading industries. Together, these industries contributed more than 45 per cent of the total manufacturing GVA during 2024-25.
According to the ASI data, the number of factories increased steadily over the five-year period from 2,50,454 in 2020-21 to 2,66,931 in 2024-25. The number of total persons engaged also rose from 1.61 crore to nearly 2.10 crore during the same period.
The GVA of the registered manufacturing sector increased from Rs 16.17 lakh crore in 2020-21 to Rs 26.94 lakh crore in 2024-25. Net profit also rose from Rs 6.14 lakh crore to Rs 11.56 lakh crore during the period.
The ASI is conducted to provide information on the composition, growth and structure of manufacturing industries, including output, value addition, employment and capital formation. The data also serve as an input for policymaking and the compilation of National Accounts Statistics.
The reference period for ASI 2024-25 was April 2024 to March 2025, while fieldwork was conducted between October 2025 and June 2026.
-PIB
