The Ministry of Statistics and Programme Implementation has released results from the Annual Survey of Industries for the financial year 2024-25, covering the period April 2024 to March 2025. The data shows that India’s registered manufacturing sector expanded significantly across most key economic indicators compared to the previous year.
Key facts
- Total registered manufacturing establishments: 2.67 lakh in 2024-25, up from 2.60 lakh in 2023-24
- Industrial output grew by 7.81% year-on-year
- Gross Value Added increased by 9.59%, reaching Rs 2694.2 thousand crore
- Total persons engaged rose by 7.19% to 2.10 crore (21 million)
- Fixed capital expanded by 10.54% to Rs 5,11,166 crore
- Total emoluments (wages and salaries) increased by 12.08%
- Net profit grew by 7.73%; net income rose by 9.68%
- Top five states by employment: Tamil Nadu, Maharashtra, Gujarat, Uttar Pradesh and Haryana (56% of total)
- Top five industries by contribution: Basic metal, motor vehicles, chemicals, pharmaceuticals and food products (45% of GVA)
What the survey covers
The Annual Survey of Industries gathers data from registered factories under the Factories Act 1948, bidi and cigar manufacturing establishments, electricity undertakings not registered with the Central Electricity Authority, and business units with 100 or more employees. The survey collects information through a dedicated web portal and is conducted under the Collection of Statistics Act 2008. Data is collected from selected establishments identified through the Chief Inspector of Factories lists maintained in each state.
State-wise and industry-wise performance
Maharashtra led in manufacturing value addition, contributing 15.92% of total Gross Value Added, followed by Gujarat (14.10%), Tamil Nadu (10.90%), Karnataka (7.31%) and Uttar Pradesh (6.64%). These five states together accounted for more than 54% of the country’s manufacturing value added.
In terms of employment, Tamil Nadu had the largest manufacturing workforce share at 14.99%, followed by Maharashtra at 13.08% and Gujarat at 12.99%. Tamil Nadu also had the most registered manufacturing establishments (41,221), followed by Gujarat (33,084) and Maharashtra (27,379).
The basic metals industry, motor vehicle manufacturing, chemicals and chemical products, pharmaceuticals, and food products sectors were the dominant contributors to manufacturing output, together generating more than 45% of total industrial value added.
Capital formation and profitability
The manufacturing sector continued to invest in expansion. Total invested capital, which includes both fixed capital and working capital, grew by 11.10% during 2024-25. Net income across the sector increased by 9.68% while net profit rose by 7.73%, indicating improved financial performance beyond just revenue growth.
Employment and wages
The sector added more than 14 lakh employees during the year, with the estimated total persons engaged reaching 2.10 crore. This represents the broader expansion of manufacturing employment across the country. Wages and total emoluments grew at an even faster rate than employment, increasing by 12.08%, suggesting that workers received higher average compensation.
What this means for you
If you work in manufacturing or are considering manufacturing jobs, the data suggests a growing sector with improving wage prospects. The sector’s steady growth indicates stable employment opportunities, particularly in states like Tamil Nadu, Maharashtra and Gujarat. If you invest in manufacturing companies or track industrial stocks, the data shows improving profitability alongside revenue growth. Business owners and entrepreneurs in the manufacturing space can see from the state-wise breakdown which regions are attracting the most investment and employment.
About the survey
The Annual Survey of Industries has been a key source of information for understanding manufacturing sector dynamics for decades. It provides policymakers, research institutions and business stakeholders with detailed data on output, value addition, employment, capital formation and other parameters. The survey is conducted through a web-based system, and the Ministry notes that the data presented are estimates from sample surveys, so appropriate caution should be exercised when using them for specific decisions.