Manufacturing corporate sector GVA grows 9.28% in 2024–25: Annual Survey of Industries

The manufacturing corporate sector recorded 9.28 per cent growth in Gross Value Added (GVA) in 2024–25, while net value added per operating factory rose 6.59 per cent, according to detailed Annual Survey of Industries (ASI) results released by the Ministry of Statistics and Programme Implementation (MoSPI) on Wednesday.

GVA per person engaged increased 2.25 per cent over the previous year, while the gross value of plant and machinery in the registered manufacturing sector grew 7.25 per cent.

The manufacturing corporate sector, which accounted for more than 89 per cent of total GVA, recorded a 3.45 per cent increase in operating factories and 7.57 per cent growth in persons engaged.

The Ministry released Volume I and the Summary Results of the Factory Sector, along with unit-level data and metadata, following the publication of the ASI factsheet on September 30. The survey covers the financial year from April 2024 to March 2025, with fieldwork conducted between October 2025 and June 2026.

Food products, textiles, basic metals, motor vehicles and wearing apparel together accounted for more than 41 per cent of manufacturing employment covered by the survey.

Maharashtra, Gujarat, Tamil Nadu, Karnataka and Uttar Pradesh were the top five states by GVA, contributing more than 54 per cent of the total.

The findings showed a concentration of capital, output and value addition among larger factories. Units with plant and machinery investment of up to Rs 5 crore represented 78.69 per cent of operating factories and employed 34.32 per cent of persons engaged. They accounted for 10.55 per cent of fixed capital, 19.24 per cent of output and 17.61 per cent of net value added.

By comparison, factories with plant and machinery investment of Rs 10 crore and above constituted 15.84 per cent of operating units but held 87.42 per cent of fixed capital. They accounted for 59.66 per cent of employment, 76.82 per cent of output and 78.07 per cent of net value added.

A classification by output showed that factories producing more than Rs 10 crore annually represented 47.63 per cent of operating units. These factories accounted for 95.55 per cent of fixed capital, 88.78 per cent of employment, 98.10 per cent of output and 97.87 per cent of net value added.

Factories with annual output of up to Rs 1 crore represented 18.34 per cent of operating units, employing 2.17 per cent of persons engaged and contributing 0.08 per cent of output.

The ASI examines changes in the composition, growth and structure of industries through indicators including output, value addition, employment, capital investment and remuneration. Its findings also provide inputs for national and state income estimates.

Volume I presents detailed factory-sector results, while the Summary Results publication highlights characteristics such as employment size, capital investment, output and net value added at national and state levels.

The survey broadly covers registered factories, bidi and cigar establishments, certain electricity undertakings and eligible establishments with at least 100 employees included in state business registers. Data are collected through a dedicated web portal using an establishment-based approach.

The publications and unit-level data are available on the Ministry’s website.

(PIB)