Key Details
The National Statistics Office’s Annual Survey of Industries (ASI) 2024–25 estimates activity in the registered factory sector for April 2024–March 2025. The value figures below are at current prices.
Indicator | 2023–24 | 2024–25 |
|---|---|---|
Factories | 2.60 lakh | 2.67 lakh (+2.64%) |
Output | ₹153.27 lakh crore | ₹165.24 lakh crore (+7.81%) |
Gross value added (GVA) | ₹24.58 lakh crore | ₹26.94 lakh crore (+9.59%) |
Persons engaged | 1.96 crore | 2.10 crore (+7.19%) |
Total emoluments | ₹7.16 lakh crore | ₹8.03 lakh crore (+12.08%) |
Fixed capital | ₹46.24 lakh crore | ₹51.12 lakh crore (+10.54%) |
Output and Employment Rise Together
Registered-sector output grew 7.81% in 2024–25, while GVA—the value created after accounting for production inputs—rose 9.59%. Fixed capital increased 10.54%. These are current-price increases and should not be read as inflation-adjusted growth rates.
The estimated number of persons engaged rose by 14.08 lakh, from 1.96 crore to 2.10 crore. This measure is broader than ASI’s “workers” category, which increased by about 11.34 lakh. Total emoluments grew 12.08%, faster than the number of persons engaged; the aggregate does not, by itself, show how earnings changed for different types of employees.
A Few States and Industries Account for Much of the Sector
Maharashtra, Gujarat, Tamil Nadu, Karnataka and Uttar Pradesh together generated about 55% of registered manufacturing GVA and contained 53.30% of establishments. The leading employment states form a slightly different group: Tamil Nadu, Maharashtra, Gujarat, Uttar Pradesh and Haryana accounted for about 56% of persons engaged.
Concentration is also visible by industry. Basic metals, motor vehicles, chemicals, pharmaceuticals and food products together contributed more than 45% of manufacturing GVA. Food products employed the largest number of persons among the industry divisions shown in the press note.
Policy Relevance
The ASI provides a way to assess whether manufacturing expansion is accompanied by more employment and higher value addition, rather than looking at output alone. This year, all three rose, but their different growth rates warrant closer examination at industry level.
The state and industry shares also show where much of the registered sector’s activity — and exposure to sector-specific changes — is concentrated. Because ASI covers the registered factory sector, its employment figures should not be treated as a count of jobs across all Indian manufacturing, including informal and unregistered units.
Follow the Full Press Note Here: Annual Survey of Industries: Insights From ASI 2024–25