The Ministry of Statistics and Programme Implementation (MoSPI) has revised the base year of the National Accounts Statistics from 2011–12 to 2022–23, with the revised series released in February 2026. According to the revised series, the compounded annual growth rate (CAGR) of Manufacturing Gross Value Added (GVA) at constant prices (2022-23 base) during the period 2022-23 to 2025-26 is 10.88%.
The contribution of the Manufacturing sector to India's total GVA at current prices shows relative stability: 14.7% in 2022-23, 14.7% in 2023-24, 14.5% in 2024-25 (First Revised Estimates), and 14.8% in 2025-26 (Provisional Estimates). The year-over-year growth rates of Manufacturing GVA at constant prices were +12.7% in 2023-24, +9.3% in 2024-25, and +10.7% in 2025-26. The available data indicates no significant change in manufacturing's share of total GVA.
The Government has undertaken several structural reforms and initiatives to strengthen the manufacturing sector's resilience, including Production Linked Incentive (PLI) Schemes, PM GatiShakti National Master Plan, National Logistics Policy, Bharat Audyogik Vikas Yojana (BHAVYA), initiatives to promote semiconductor and electronics manufacturing, critical minerals and MSMEs, and the Scheme for Promotion of Surface Coal/Lignite Gasification Projects. These collective measures aim to strengthen domestic manufacturing, diversify supply chains, reduce import dependence in strategic sectors, enhance energy security, and improve the competitiveness of India's manufacturing ecosystem.
This information was presented in the Lok Sabha by Rao Inderjit Singh, Minister of State (Independent Charge) for Statistics and Programme Implementation, Planning, and Culture, based on press release data dated June 5, 2026.