New Delhi: India’s registered manufacturing sector has recorded a robust 7.25 per cent growth in the gross value of plant and machinery in the year 2024-25 over the previous year, according to data released by the Ministry of Statistics and Programme Implementation (MoSPI) on Wednesday.
During FY2024-25, the registered manufacturing industry experienced notable expansion, driven by upward trends across key economic metrics, including capital investment, production output, Gross Value Added (GVA), workforce numbers, and compensation in comparison to the prior year, an official statement said.
The manufacturing corporate sector, having a share of more than 89 per cent in total gross value added (GVA), has reported growth in the number of factories in operation and total persons engaged by 3.45 per cent and 7.57 per cent, respectively and GVA growth of 9.28 per cent over the previous year.
The top five industries — food products, textiles, basic metals, motor vehicles, and wearing apparel taken together, have contributed more than 41 per cent of the total manufacturing employment of the country during 2024-25.
Maharashtra, Gujarat, Tamil Nadu, Karnataka and Uttar Pradesh have emerged as the top 5 states in respect of GVA, having a share of more than 54 per cent of the total manufacturing GVA of the country in 2024-25.
The ministry has released the results of the Annual Survey of Industries (ASI) for the financial year 2024-25. Detailed publications of ASI 2024-25 comprising Volume I and Summary Results of Factory Sector along with unit-level data have now been disseminated by MOSPI.
The figures show that the factories with an investment in plant and machinery up to Rs 5 crore account for 78.69 per cent of the total factories that operated during 2024-25. While these factories share 10.55 per cent of total fixed capital, their share in total persons engaged is 34.32 per cent. Their contribution to the total output and net value added is 19.24 per cent and 17.61 per cent, respectively.
As against this, the share of operational factories, with gross investment in plant and machinery of Rs 10 crore and above, is 15.84 per cent, accounting for 87.42 per cent of total fixed capital, 59.66 per cent of total persons engaged, 76.82 per cent of the gross output, and 78.07 per cent of the total net value added.
Annual Survey of Industries is conducted with the primary objective of providing a meaningful insight into the dynamics of change in the composition, growth and structure of various manufacturing industries in terms of output, value added, employment, capital formation and a host of other parameters. It provides valuable input to the National Accounts Statistics at the national and state levels. The results are prepared at the state and major industry level.
(IANS)
