The ASI 2023-24 reports an 11.89% increase in Gross Value Added, 5.80% growth in industrial output, and a 5.92% rise in employment, highlighting Maharashtra, Gujarat, and Tamil Nadu's prominent roles.

Why in the news?

Ministry of Statistics and Programme Implementation (MoSPI) has released the Annual Survey of Industries (ASI) FY 2023-24.

About Annual Survey of Industries (ASI)

Conducted by: National Statistical Office (NSO), under the Ministry of Statistics and Programme Implementation (MoSPI).
Mandated By: Conducted annually under the Collection of Statistics (Amendment) Act, 2017.
Industries covered:
- Factories registered under Sections 2m (i &ii) of Factories Act,1948.
- Bidi and cigar manufacturing establishments under the Bidi & Cigar Workers (Conditions of Employment) Act, 1966.
- Electricity undertakings not registered with Central Electricity Authority (CEA).
- Units with 100 or more employees registered in the Business Register of Establishments (BRE) prepared and maintained by the State Governments.
Industries Excluded: Defense establishments, oil storage and distribution depots, departmental units such as railway workshops, gas storage, etc.

Key Findings from the ASI 2023-24 Report

Gross Value Added (GVA): Increased by 11.89% at current prices from the previous year.
- Top 5 Industries: Basic metal, motor vehicles, chemical and chemical products, food products, and pharmaceutical products were the largest contributors.
- Top States: Maharashtra (16%), Gujarat, Tamil Nadu, Karnataka, and Uttar Pradesh were the top five states by GVA.
Industrial Output: Grew by 5.80% over the previous year.
Employment Growth: The industrial sector added over 5.7 million jobs during the last decade, with a 5.92% year-on-year increase in employment for 2023–24.
- Top 5 States: Tamil Nadu, Gujarat, Maharashtra, Uttar Pradesh, and Karnataka had the highest employment share.