The Ministry of Statistics and Programme Implementation (MoSPI) has released the results of its Annual Survey of Industries (ASI) for the financial year 2022-23, which spans from April 2022 to March 2023. The findings, released in October 2024, offer a comprehensive overview of the state of India’s manufacturing sector and underline significant growth across multiple industrial segments.
The ASI 2022-23 marks a crucial milestone in tracking the industrial performance of the nation. This survey, conducted in the subsequent year following the reference period, remains the most authoritative source of industrial statistics in India. The fieldwork for the ASI 2023-24 commenced in September 2024, continuing the ministry’s meticulous annual documentation of industrial activities.
A key highlight of the ASI 2022-23 is the estimated growth in the number of factories over the past decade. According to the data, the number of registered factories increased from 224,576 during the ASI 2013-14 period to 253,334 in 2022-23, registering a growth rate of 12.81 percent. This steady rise underscores the expanding industrial base in the country, reflecting resilience and a conducive business environment.
The survey also sheds light on employment trends across various industrial categories as per the National Industrial Classification (NIC) framework. The total estimated number of persons engaged in the manufacturing sector increased from 172.15 million in 2021-22 to 184.95 million in 2022-23, indicating a healthy growth trajectory. Significant industries such as textiles, wearing apparel, and food products demonstrated robust increases in employment, highlighting their role as major contributors to the industrial economy.
For instance, the textiles industry showed an increase from 16.60 million persons engaged in 2021-22 to 17.23 million in 2022-23, reflecting its resilience in a competitive global market. Similarly, the wearing apparel sector saw a notable rise in its workforce, moving from 11.81 million to 13.20 million over the same period. The food products industry also experienced a significant uptick in employment figures, growing from 19.02 million in 2021-22 to 21.16 million in 2022-23, showcasing its consistent growth as a critical part of the Indian economy.
The survey highlights emerging trends in niche industrial categories as well. Sectors such as pharmaceuticals and computer, electronic, and optical products registered impressive employment growth, underlining India’s growing strength in knowledge-based industries. The pharmaceuticals sector, for example, rose from 8.92 million persons engaged in 2021-22 to 9.26 million in 2022-23, while the computer, electronic, and optical products industry saw its workforce expand from 3.85 million to 4.25 million over the same period.
Other industries, including fabricated metal products, machinery, and equipment, along with motor vehicles and related manufacturing, also witnessed noticeable increases in workforce figures, reflecting ongoing expansion and modernization. The basic metals industry stands out with a rise from 12.72 million to 14.12 million persons engaged, signaling its critical role in the infrastructure and construction sectors.
Furthermore, the data illustrates the sustained growth in legacy sectors such as tobacco products and wood-based manufacturing, albeit at more modest rates. Modern sectors like waste treatment and materials recovery have also started gaining traction, hinting at evolving priorities in sustainability and environmental management.
The release of ASI 2022-23 data is expected to provide policymakers, businesses, and investors with valuable insights to further shape the industrial landscape of the country. By analyzing these trends, stakeholders can identify potential opportunities for investment, policy intervention, and skill development programs. With the ongoing documentation through surveys like ASI, India’s journey towards industrial modernization and sustained growth continues, fostering a more inclusive and prosperous economic framework.
