India’s Industries Added Jobs, Grew GVA by 11.9% in 2023–24
27 August 2025 – The Ministry of Statistics & Programme Implementation (MoSPI) has released the Annual Survey of Industries (ASI) 2023–24, highlighting strong growth in value addition and employment across India’s factories.
Key Highlights
- Gross Value Added (GVA): Up 11.9% in current prices over 2022–23, reaching ₹24.6 lakh crore.
- Output Growth: Industrial output rose 5.8%, reflecting resilience in the manufacturing sector.
- Jobs: Employment in the sector grew 5.9% in 2023–24, with more than 57 lakh jobs added between 2014–15 and 2023–24.
- Top Performers: By GVA, leading industries were Basic Metals, Motor Vehicles, Chemicals, Food Products, and Pharma. Tamil Nadu, Gujarat, Maharashtra, Uttar Pradesh, and Karnataka emerged as top employment hubs.
Table: Key ASI Indicators (2019–20 to 2023–24)
| Year | GVA (₹ Lakh Cr) | Output (₹ Lakh Cr) | Employment (Crore Persons) | Fixed Capital (₹ Lakh Cr) |
|---|---|---|---|---|
| 2019–20 | 14.86 | 89.83 | 1.66 | 36.41 |
| 2020–21 | 16.17 | 88.09 | 1.61 | 36.94 |
| 2021–22 | 20.48 | 119.27 | 1.72 | 37.26 |
| 2022–23 | 21.97 | 144.87 | 1.85 | 41.22 |
| 2023–24 | 24.58 | 153.27 | 1.96 | 46.24 |
Takeaway: India’s manufacturing sector is not only producing more—it’s also creating jobs and diversifying across states and industries.
Source: Ministry of Statistics & Programme Implementation (PIB)
