Annual Survey of Industries (ASI) Results for 2023-24 released

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It is released by the Ministry of Statistics and Programme Implementation (MoSPI).

It aims to provide meaningful insights into changes in the composition, growth, and structure of manufacturing industries, including output, value added, employment, and capital formation.
The ASI is conducted annually under the Collection of Statistics (Amendment) Act, 2017.
ASI covers factories registered under the Factories Act, 1948, Bidi and cigar units under the Bidi and Cigar Workers (Conditions of Employment) Act, 1966, and electricity undertakings not registered with the Central Electricity Authority (CEA).
Defence establishments, oil storage and distribution depots, departmental units such as railway workshops, gas storage, etc., are not covered under ASI.
The results are prepared at the state and major industry level.

Key highlights of the survey

The top 5 industries in terms of Gross Value Added (GVA) are Basic metal, Motor vehicles, Chemical and Chemical products, Food Products, and Pharmaceutical products.
The top 5 States in respect of employment are Tamil Nadu, Gujarat, Maharashtra, Uttar Pradesh, and Karnataka.
Gross Value Added (GVA) grew by 11.89% over the previous year.
Industrial output increased by more than 5.80% over the previous year.
Average emoluments per person engaged grew by 5.6% compared to 2022-23.

Gross Value Added (GVA) is defined as additional value created by the process of production. This is calculated by deducting the value of total input from total output.
Net Value Added (NVA) is arrived at by deducting total input and depreciation from total output.
Fixed Capital represents the depreciated value of fixed assets owned by the factory as on the closing day of the accounting year.
- Fixed capital involves allocation of capital into long-term assets or projects (like buildings, machines, or land) whereas Working Capital investment facilitates day-to-day operations of the business.