Release of the Annual Survey of Industries (2024-25) results

Ministry of Statistics & Programme Implementation Release of the Annual Survey of Industries (2024-25) results

2.67 Lakh registered manufacturing establishments driving nation’s economic expansion Fixed capital witnessed growth of 10.54% Gross Value Added grew by 9.59% Added more than 14 Lakh employees surpassing 2 crore estimated total employment

Posted On: 30 SEP 2026 4:00PM by PIB Delhi

Snapshot:

Registered manufacturing sector has recorded remarkable growth in respect of Industrial Output by 7.81%, Total Employment by 7.19%, Emoluments by 12.08% in the year 2024-25 over the previous year.

Over the last survey period, this sector has reported Invested capital (Fixed capital + Physical working capital) expansion by 11.10%.

During the same period, Net Income has increased by 9.68%, while Net Profit has also registered a growth of 7.73%.

The top five industries, Basic metal, Motor vehicles, Chemical and Chemical products, Pharmaceutical Products and Food Products, taken together, have contributed more than 45% of the total manufacturing GVA of the country during 2024-25.

Tamil Nadu, Maharashtra, Gujarat, Uttar Pradesh and Haryana have emerged to be the top 5 States in respect of employment having share of more than 56% of the total manufacturing employment of the country in 2024-25.

Ministry of Statistics and Programme Implementation (MoSPI) has released the results of Annual Survey of Industries (ASI) for the reference period April 2024 to March 2025 (i.e. financial year 2024-25) through the factsheet. In this press note, this survey has been referred to as ASI 2024-25. The field work for this survey was carried out during October 2025 to June 2026 for ASI 2024-25. A brief note about the survey ASI 2024-25 is given at the Endnote.Annual Survey of Industries is conducted with the primary objective 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 host of other parameters. The survey data serves as an important input for policymaking, supporting compilation of National Accounts Statistics, and meets the information needs of various Ministries while enabling stakeholders to make informed decisions. The results are prepared at State and major industry level. The report is available in the website of the Ministry (https://www.mospi.gov.in).

Key highlights from ASI 2024-25 results The registered manufacturing sector recorded broad-based growth during FY2024-25, with most of the major economic indicators—such as invested capital, input, output, Gross Value Added, employment and wages—witnessed an increase over the previous year.

Growth in Establishment, Gross Value Added and Employment Metrics:

The total number of establishments in this sector increased from 2.60 lakhs in ASI 2023-24 to 2.67 lakhs in ASI 2024-25, representing a growth of 2.64%. The highest number of establishments reported in Tamil Nadu (41,221), followed by Gujarat (33,084) and Maharashtra (27,379).

Chart-1: Bar chart showing the Number of factories by major States in ASI 2024-25: All India During the same period, GVA increased from ₹2458.3 thousand crore to ₹2694.2 thousand crore, indicating sustained growth (9.59%) in industrial value addition. In terms of individual share of States in all India GVA, Maharashtra recorded the highest GVA in 2024-25, followed by Gujarat, Tamil Nadu, Karnataka and Uttar Pradesh. Collectively, these five States accounted for more than 54 % of the total manufacturing GVA of the country. These five States accounted for 53.30 % of total establishments at all India level.

Table 1: Top five States with respect to GVA in ASI 2024-25: Share (in %) of GVA and Establishments State GVA Establishments ASI 2023-24 ASI 2024-25 ASI 2023-24 ASI 2024-25 Maharashtra 15.95 15.92 10.20 10.26Gujarat 14.20 14.10 12.81 12.39 Tamil Nadu 10.26 10.90 15.43 15.44 Karnataka 7.47 7.31 5.76 5.86 Uttar Pradesh 6.80 6.64 8.51 9.35 Employment in the registered manufacturing sector continued to expand. The estimated number of persons engaged in registered a significant increase from 1.96 crore in ASI 2023-24 to 2.10 crore in 2024-25 with a growth of 7.19%. Total emoluments paid to the workforce also increased by 12.08 % in 2024-25 as compared to 2023-24. Tamil Nadu, Maharashtra, Gujarat, Uttar Pradesh and Haryana were the five leading States in terms of the number of persons engaged in the manufacturing sector in 2024-25. Together, these States accounted for about 56 per cent of total manufacturing employment during the year.

Chart-2: Total Number of Persons Engaged (in thousand) by major industry division in ASI 2024-25 :All India Table 2: Top five States with respect to Total Persons Engaged in ASI 2024-25: Share (in %) of Total Persons Engaged and Emoluments State Total Persons Engaged Emolument ASI 2023-24 ASI 2024-25 ASI 2023-24 ASI 2024-25 Tamil Nadu 15.24 14.99 13.16 13.02 Maharashtra 12.95 13.08 17.48 17.64 Gujarat 13.07 12.99 13.13 12.99Uttar Pradesh 8.30 8.72 7.61 7.82 Haryana 6.08 6.44 6.74 6.82 Chart-3: Pie chart showing distribution of Total Persons Engaged by organization type in 2024-25:

All –India Table 3: Value of a few key parameters from ASI 2020-21 to 2024-25 in current prices (Value figures in Rs. Lakh) Year 2020-21 2021-22 2022-23 2023-24 2024-25 Characteristics Factories 250,454 249,987 253,334 260,061 266,931 Factories in 200,395 200,576 206,523 212,990 218,543 operation Fixed Capital 369,438,562 372,635,444 412,179,458 462,409,035 511,166,407 Invested 519,114,310 554,493,175 613,921,255 680,132,999 755,643,072 Capital Workers 12,594,563 13,609,931 14,616,971 15,519,957 16,653,810 Total Persons 16,089,700 17,215,350 18,494,962 19,589,131 20,996,913 EngagedWages to 22,261,548 26,455,930 29,990,380 33,598,653 37,976,781 Worker Total 48,389,031 56,082,801 64,049,070 71,646,903 80,302,971 Emoluments Input 719,206,541 987,917,996 1,228,954,623 1,286,883,003 1,382,964,338 Output 880,921,387 1,192,715,147 1,448,660,228 1,532,716,609 1,652,384,144 GVA 161,714,846 204,797,151 219,705,605 245,833,605 269,419,806 Depreciation 28,135,986 29,964,685 31,664,493 35,519,270 39,425,596 NVA 133,578,860 174,832,466 188,041,113 210,314,335 229,994,210 Net Income 115,747,714 157,994,016 169,282,621 187,387,599 205,524,799 Net Profit 61,405,752 95,071,368 97,634,628 107,285,987 115,583,603

Endnote:

A brief note about the Annual Survey of Industries (ASI) 2024-25 A. Coverage of ASI:

The Annual Survey of Industries broadly covers the following i. Factories registered under Sections 2m(i) and 2m(ii) of the Factories Act,1948 ii. Bidi and cigar manufacturing establishments registered under the Bidi & Cigar Workers (Conditions of Employment) Act,1966 iii. Electricity undertakings engaged in generation, transmission and distribution of electricity, not registered with the Central Electricity Authority (CEA) iv. Units with 100 or more employees registered in the Business Register of Establishments (BRE) prepared and maintained by the State Governments as and when such lists are shared by the respective State Governments.

B. ASI frame and its updation The ASI frame is based on the lists of registered factory / units maintained by the Chief Inspector of Factories (CIF) in each State and those maintained by registration authorities in respect of Bidi and Cigar establishments and electricity undertakings. The frame is being revised and updated periodically by the Regional Offices of the Field Operations Division of NSO in consultation with the Chief Inspector of Factories in the State. At the time of revision, the names of the de-registered factories are removed from the ASI frame and those of the newly registered factories are added. For the units selected in the last survey year (in this case 2023-24), relevant fields like Status Code, Frame industry (NIC 4 digit), Employee (Total persons engaged), Address etc. of frame for a given year, say, ASI 2024-25 are auto- updated dynamically based on the information collected during the last survey year.

C. Unit of EnumerationThe primary unit of enumeration in the survey is a factory in the case of manufacturing industries, a workshop in the case of repair services, an undertaking or a licensee in the case of electricity, gas & water supply undertakings and an establishment in the case of bidi & cigar industries. The owner of two or more establishments located in the same State and pertaining to the same industry group and belonging to census scheme is, however, permitted to furnish a single consolidated return. Such consolidated returns are common feature in the case of bidi and cigar establishments, electricity and certain public sector undertakings.

D. Data Collection Mechanism Data for ASI are collected from the selected factories under the Collection of Statistics Act 2008 as amended in 2017 and Rules framed there under in 2011. The entire survey is conducted through a dedicated web-portal without any paper schedule. For data collection in ASI, an establishment (and not enterprise) approach is followed wherein data are collected from the selected establishments.

E. Survey Disclaimer Various quality checks are carried out on the data collected through this survey which is primarily record- based. Relative Standard Errors (RSE) (which is a widely accepted statistical measure of reliability of an estimate) for important parameters estimated from the survey at an overall level are small and well within the acceptable range. However, since the data presented in this result are estimated from sample survey, necessary caution may be taken while using this data.

The Factsheet for ASI 2024-25 is available on the website of the ministry (https://www.mospi.gov.in).

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