India Manufacturing Sector Performance FY2024-25
The Ministry of Statistics & Programme Implementation has released the detailed results of the Annual Survey of Industries (ASI) for the financial year 2024-25, covering the period from April 2024 to March 2025. The survey provides comprehensive insights into India's registered manufacturing sector, which showed significant growth across multiple key metrics.
Key Growth Metrics
The manufacturing corporate sector, which represents more than 89% of total Gross Value Added (GVA), registered impressive growth during FY2024-25. Gross Value Added grew by 9.28% over the previous year, demonstrating strong sectoral expansion. Productivity metrics also improved substantially, with Net Value Added per Factory in Operation increasing by 6.59% and GVA per Person Engaged growing by 2.25% over the previous year.
The sector witnessed notable expansion in capital investment, with the gross value of plant and machinery installed growing by 7.25% year-over-year. Employment indicators showed positive trends as well, with the number of factories in operation increasing by 3.45% and total persons engaged growing by 7.57% compared to the previous year.
Distribution by Investment Size
The survey data reveals significant concentration patterns when analyzed by capital investment size. Factories with investment in plant and machinery up to ₹5 crores accounted for 78.69% of total operational factories but contributed only 10.55% of total fixed capital, 34.32% of total persons engaged, 19.24% of total output, and 17.61% of net value added.
In contrast, large-scale factories with investment of ₹10 crores and above, while representing only 15.84% of operational factories, dominated the sector's economic contribution. These large factories accounted for 87.42% of total fixed capital, 59.66% of total persons engaged, 76.82% of gross output, and 78.07% of total net value added.
Further breakdown shows factories with investment up to ₹25 lakhs represented 59.56% of operational factories but contributed only 7.63% of fixed capital and 10.86% of net value added.
Distribution by Output Volume
The analysis by output volume reveals even more pronounced concentration. Factories producing gross output up to ₹1 crore accounted for 18.34% of operating factories but contributed only 1.17% of fixed capital, 2.17% of total persons engaged, 0.57% of total emoluments, and 0.08% of total output.
At the other extreme, factories producing gross output of more than ₹10 crores, representing 47.63% of operating factories, dominated the sector with 95.55% of fixed capital, 88.78% of total employment, 94.57% of total emoluments, 98.10% of total output, and 97.87% of total net value added.
Regional and Industry Concentration
The survey identified significant regional concentration in manufacturing output. Maharashtra, Gujarat, Tamil Nadu, Karnataka, and Uttar Pradesh emerged as the top five states, collectively contributing more than 54% of India's total manufacturing GVA in 2024-25.
Industry-wise analysis showed that five key industries—food products, textiles, basic metals, motor vehicles, and wearing apparel—collectively contributed more than 41% of India's total manufacturing employment during the survey period.
Survey Methodology and Coverage
The Annual Survey of Industries covers factories registered under Sections 2m(i) and 2m(ii) of the Factories Act, 1948; bidi and cigar manufacturing establishments registered under the Bidi & Cigar Workers Act, 1966; electricity undertakings engaged in generation, transmission and distribution not registered with the Central Electricity Authority; and units with 100 or more employees registered in State Business Registers.
The survey frame is updated periodically through consultation with State Chief Inspectors of Factories, with data collected under the Collection of Statistics Act 2008 as amended in 2017. The entire survey is conducted through a dedicated web-portal without paper schedules, following an establishment-level approach rather than enterprise-level data collection.