The National Statistics Office (NSO) released the Supply and Use Tables (SUTs) for 2022-23 and 2023-24 on 15 May 2026, marking the first comprehensive SUT compilation under India’s revised national accounts series with 2022-23 as the new base year.
A major feature of the revised framework is the full integration of annual GDP estimates with the SUT architecture. Under this system, estimates derived through the production, income, and expenditure approaches are reconciled simultaneously at the final stage, significantly reducing statistical discrepancies within national accounts.
The SUT framework provides a detailed mapping of the flow of goods and services across the economy by linking production, imports, intermediate consumption, final consumption, capital formation, and exports. The current release covers 155 product groups and 67 industries, offering a significantly more granular representation of India’s economic structure.
The revised series draws upon updated datasets including the Annual Survey of Industries (ASI), Annual Survey of Unincorporated Sector Enterprises (ASUSE), and the Household Consumption Expenditure Survey (HCES). It also aligns with revised international statistical standards under the System of National Accounts (SNA) framework and updated industrial classifications such as NIC 2025.
The data shows that the services sector continues to dominate India’s economic structure, accounting for over half of total supply at basic prices, while manufacturing and agriculture remain major contributors to production and value addition.
Key Economic Highlights (2022-23 & 2023-24)
Total Supply:
₹627.18 lakh crore (2022-23)
₹669.88 lakh crore (2023-24)
Sectoral Composition:
Services: 51–52% of total supply
Manufacturing: 35–36%
Agriculture: ~11%
Private Consumption Shift:
Services share in PFCE increased from 43% to 44%
Highest GVA-to-GVO Ratios:
Ownership of Dwellings
Forestry
Agriculture
Highest Intermediate Consumption Share:
Construction sector (14–15%)
Coverage:
155 products
67 industries
The SUT Framework: Supply vs. Use
Supply and Use Tables (SUTs) are a national accounting framework used to track how goods and services are produced, distributed, and consumed across the economy. Under the UN’s System of National Accounts (SNA), the framework ensures that the total supply of every product (domestic production + imports) equals its total use (intermediate consumption + final consumption + investment + exports), improving the consistency and accuracy of GDP estimates.
The framework consists of two linked components:
Supply Table: Records the total availability of products in the economy, including domestic production and imports, along with adjustments for taxes, subsidies, and trade and transport margins.
Use Table: Records how these products are used across the economy — including intermediate consumption, household and government consumption, capital formation, and exports.
What are "Trade and Transport Margins (TTM)"?
Trade and Transport Margins (TTM) represent the difference between the price paid by a consumer (purchaser’s price) and the price received by the producer (basic price). These margins cover the costs associated with getting a product from the factory gate or the port of entry to the end user, including wholesale/retail markups and transportation costs. In the new 2022-23 series, TTM estimates have moved from fixed assumptions to a more data-driven approach using state-level price data and latest surveys, ensuring a more accurate conversion of supply values.
Policy Relevance
Improves GDP Consistency: Integrating annual estimates with SUTs reduces statistical discrepancies between production and expenditure estimates.
Enhances International Comparability: Alignment with SNA standards strengthens India’s credibility in global economic reporting.
Supports Evidence-Based Policymaking: Granular sectoral and product-level data improves macroeconomic planning and industrial policy design.
Strengthens Informal Sector Measurement: Inclusion of ASUSE data improves representation of unincorporated enterprises within GDP calculations.
Improves Consumption Analysis: Updated HCES integration provides better visibility into household demand patterns.
Supports Structural Economic Assessment: Detailed supply-use mapping helps identify sectoral dependencies, input intensities, and productivity trends.
Follow the Full Update Here: Release of Supply and Use Tables of 2022-23 and 2023-24