India’s formal manufacturing sector recorded broad-based growth in 2024-25, with GVA rising 9.6% to ₹26.9 lakh crore and industrial output increasing 7.8% to ₹165.2 lakh crore, according to the Annual Survey of Industries. Invested capital grew 11.1% to ₹75.6 lakh crore, while the number of establishments rose 2.6%.
India's formal manufacturing sector experienced robust growth in 2024-25, with gross value added (GVA) increasing by 9.6% to reach ₹26.9 lakh crore, up from ₹24.6 lakh crore in the previous fiscal year. This growth was accompanied by a 7.8% rise in industrial output to ₹165.2 lakh crore. Employment in the sector expanded significantly, with the number of workers increasing by 1.4 million to reach around 21 million, while total wages grew by 12.1% to ₹8 lakh crore.
The sector's capital investment also saw a notable increase of 11.1% to Rs 75.6 lakh crore. Notably, five states—Maharashtra, Gujarat, Tamil Nadu, Karnataka, and Uttar Pradesh—accounted for over half of the manufacturing GVA. Among industries, food products led in employment, hiring 2.4 million people.
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