New Delhi: The productivity of Indian industries has shown a sharp rise despite economic challenges, with gross value added (GVA) of domestic factories jumping 11.9% to ₹24.58 trillion in FY24, the latest Annual Survey of Industries (ASI) released on Wednesday showed.
GVA of domestic factories stood at ₹21.97 trillion in FY23.
The GVA is defined as the additional value created by the process of production. This is calculated by deducting the value of total input from total output.
Productivity
Higher productivity also meant industries scaled operations resulting in increased employment opportunities. Consequently, employment in industries increased 5.92% to 19.5 million in FY24, from 18.4 million in FY23, the ASI said.
The survey stated that industries added more than half a crore (5.7 million) jobs during the last decade between 2014-15 and 2023-24.
The ministry of statistics and programme implementation (MoSPI) released the results of the Annual Survey of Industries for FY24. The field work for this survey was carried out from October 2024 to June 2025.
ASI is conducted to provide 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 few other parameters. It provides valuable input to the National Accounts Statistics at national and state level.
According to the survey, the invested capital in the industries rose to ₹68.01 trillion in FY24 from ₹61.39 trillion in FY23.
The top 5 industries with respect to GVA are basic metals, motor vehicles, chemical and chemical products, food and pharmaceutical products. In terms of total persons engaged industry wise, food products tops the list followed by textiles, basic metals, motor vehicles, trailers and semi-trailers, and wearing apparels.
Tamil Nadu, Gujarat, Maharashtra, Uttar Pradesh and Karnataka are the top five states in respect of employment, according to the survey.
Tamil Nadu, Gujarat, Maharashtra, Uttar Pradesh and Andhra Pradesh are also top five states in terms of number of factories in operation.
The Annual Survey of Industries broadly covers registered factories, bidi and cigar manufacturing establishments, electricity undertakings engaged in generation, transmission and distribution of electricity, units with 100 or more employees registered in the Business Register of Establishments (BRE) prepared and maintained by the state governments.