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Jobs in industries rise by 5.9% in 2023-24: Survey

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New Delhi: Employment in industries rose by a healthy 5.9% in 2023-24 to over 1.9 crore from 1.8 crore in the previous year, a survey showed on Wednesday. Meanwhile, the gross value added grew by 11.9% in current prices in the year 2023-24 compared to 2022-23.The ministry of statistics and programme implementation (MoSPI) released the results of the Annual Survey of Industries (ASI) for the period from April 2023 to March 2024 (i.e., financial year 2023-24), referred to as ASI 2023-24.The survey results also showed that the sector added over 57 lakh jobs during the last decade, from 2014-15 to 2023-24. The total invested capital in the sector rose to Rs 68 lakh crore in 2023-24, up from a little over Rs 61 lakh crore in the previous year.Tamil Nadu, Gujarat, Maharashtra, Uttar Pradesh, and Karnataka emerged as the top five states for employment. Tamil Nadu had a 15% share in employment, followed by Gujarat (13%), Maharashtra (13%), Uttar Pradesh (8%) and Karnataka (6%), while the remaining states had a 45% share, the survey results showed.Maharashtra emerged among the top states, with share of gross value added in the manufacturing sector, with a share of 16%, followed by Gujarat at 14% and Tamil Nadu at 10%, the survey showed. The top five industries in terms of gross value added were basic metals, motor vehicles, food and pharmaceutical products and chemical and chemical products.

The food products segment topped the chart with number of factories (nearly 16%), followed by other non-metallic mineral products (11.5%) and textiles (7.1%). Food products also emerged on top for total persons engaged, with a share of 11.1%, followed by textiles (8.8%) and basic metals (7.8%).The annual survey of industries is conducted with the objective of providing an insight into dynamics of change in the composition, growth, and structure of various manufacturing industries in terms of output, value added, employment, capital formation, and other parameters. It provides valuable input to the National Accounts Statistics at the national and state level.

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