Employment in India’s industrial sector grew by 5.92%, reaching 1.95 crore workers in 2023-24, up from 1.84 crore in 2022-23, according to the latest Annual Survey of Industries (ASI) released by the Ministry of Statistics and Programme Implementation (MoSPI) on Wednesday. The survey covers the period from April 2023 to March 2024 and provides a comprehensive overview of the industrial landscape.
The survey, whose fieldwork was conducted between October 2024 and June 2025, also reported a significant rise in invested capital, which increased to Rs 68,01,329 crore in 2023-24 from Rs 61,39,212 crore in the previous fiscal. This growth reflects continued industrial expansion and investment across sectors.
In addition, Gross Value Added (GVA) in industries saw an 11.9% increase, rising to Rs 24,58,336 crore in 2023-24 from Rs 21,97,056 crore in 2022-23. The data highlights a positive trend in industrial productivity, employment, and overall contribution to the economy during the fiscal year.
