India’s manufacturing corporate sector recorded 9.28% growth in gross value added during FY2024-25, according to detailed Annual Survey of Industries publications released by the Ministry of Statistics and Programme Implementation on 4 November.
Corporate manufacturing accounted for more than 89% of total GVA in the registered factory sector. The segment also reported a 3.45% increase in factories in operation and a 7.57% rise in persons engaged compared with the previous year.
Capital base and productivity increased
Gross value of plant and machinery across registered manufacturing rose 7.25%. Net value added per operating factory increased 6.59%, while GVA per person engaged grew 2.25%.
Taken together, the figures show an expansion in both capacity and employment, although the faster growth in persons engaged than in per-person GVA indicates that labour absorption was an important part of the year’s manufacturing gains.
Employment remains concentrated
Five industries—food products, textiles, basic metals, motor vehicles and wearing apparel—accounted for more than 41% of total manufacturing employment. Their combined weight makes output and hiring trends in these sectors especially important for the industrial labour market.
The survey covers factories registered under the Factories Act and certain establishments under the Beedi and Cigar Workers Act. Fieldwork for the 2024-25 reference year was carried out from October 2025 to June 2026.
Why the detailed release matters
MoSPI had released a national factsheet on 30 September. The November publications add Volume I and summary results for the factory sector, giving policymakers, companies and researchers a broader base for analysing investment, output, employment, wages and value addition.
The data describe FY2024-25 rather than current-quarter conditions. They should therefore be read as a structural view of the registered industrial base, not a real-time measure of factory momentum in November 2026.
Key numbers
- Manufacturing corporate GVA growth: 9.28%
- Gross plant and machinery growth: 7.25%
- Factories in operation growth in corporate manufacturing: 3.45%
- Persons engaged growth in corporate manufacturing: 7.57%
- Net value added per factory growth: 6.59%
- GVA per person engaged growth: 2.25%
Source: Ministry of Statistics and Programme Implementation, 4 November 2026. This article summarises official statistics and is general information.
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