Manufacturing corporate sector GVA grew 9.28% in 2024–25, Annual Survey of Industries finds
Manufacturing corporate sector GVA grew 9.28% in 2024–25, according to the Annual Survey of Industries released by the statistics ministry.
India's manufacturing corporate sector recorded 9.28 per cent growth in Gross Value Added (GVA) in 2024–25, according to detailed Annual Survey of Industries results released by the Ministry of Statistics and Programme Implementation (MoSPI). The corporate sector accounts for more than 89 per cent of total manufacturing GVA.
The headline figure
The manufacturing corporate sector recorded 9.28 per cent growth in Gross Value Added (GVA) in 2024–25, according to detailed Annual Survey of Industries (ASI) results released by the Ministry of Statistics and Programme Implementation (MoSPI) on 4 November 2026. The ministry released Volume I and the Summary Results of the Factory Sector, along with unit-level data and metadata, following the publication of the ASI factsheet on 30 September.
The manufacturing corporate sector, which accounted for more than 89 per cent of total GVA, also recorded a 3.45 per cent increase in operating factories and 7.57 per cent growth in persons engaged. Net value added per operating factory rose 6.59 per cent, GVA per person engaged increased 2.25 per cent, and the gross value of plant and machinery in the registered manufacturing sector grew 7.25 per cent over the previous year.
What GVA means
In plain terms, GVA is the value that production adds. The Annual Survey of Industries tracks changes in the composition, growth and structure of industries through indicators including output, value addition, employment, capital investment and remuneration — so GVA growth of 9.28 per cent means the value added by the manufacturing corporate sector grew by that much compared with the previous year.
The figure is the survey's reported figure for the corporate segment of manufacturing, not for all manufacturing activity. Because the corporate sector holds more than 89 per cent of total GVA, its growth is the main driver of the overall manufacturing value-added picture in the survey.
What the survey covers
The survey covers the financial year from April 2024 to March 2025, with fieldwork conducted between October 2025 and June 2026. It broadly covers registered factories, bidi and cigar establishments, certain electricity undertakings and eligible establishments with at least 100 employees included in state business registers, with data collected through a dedicated web portal.
The results also show concentration in the sector. Maharashtra, Gujarat, Tamil Nadu, Karnataka and Uttar Pradesh were the top five states by GVA, contributing more than 54 per cent of the total. Food products, textiles, basic metals, motor vehicles and wearing apparel together accounted for more than 41 per cent of manufacturing employment covered by the survey. Its findings also provide inputs for national and state income estimates.
Editorial disclosure
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Frequently asked questions
What is GVA in simple terms?
GVA, or Gross Value Added, is the value added by production — it is how the survey tracks value addition alongside output, employment, capital investment and remuneration. A higher GVA means factories added more value through their production in that year.
Which period does the 2024–25 survey cover?
The survey covers the financial year from April 2024 to March 2025, with fieldwork conducted between October 2025 and June 2026.
Which states lead in manufacturing GVA?
Maharashtra, Gujarat, Tamil Nadu, Karnataka and Uttar Pradesh were the top five states by GVA, contributing more than 54 per cent of the total manufacturing GVA in 2024–25.