India’s manufacturing sector sees 7.4% job growth, highest in over a decade: Data

TN, Maharashtra, Gujarat, UP, and Karnataka lead in manufacturing employment

India’s manufacturing industries recorded a significant job growth of 7.4% in the fiscal year 2022-23, reaching an estimated employment figure of 1.84 crore, up from 1.72 crore in the previous year. This marks the highest increase in manufacturing employment in over a decade, according to data from the Ministry of Statistics and Programme Implementation (MoSPI).

The states with the highest employment in manufacturing were Tamil Nadu, Maharashtra, Gujarat, Uttar Pradesh, and Karnataka, which together accounted for approximately 55% of total manufacturing jobs in 2022-23.

The Annual Survey of Industries (ASI) data, covering the period from April 2022 to March 2023, revealed that industrial output surged by more than 21% compared to the previous year. The Gross Value Added (GVA) in the sector grew by 7.3% in current prices over the same period.

Key highlights from the survey indicate that input in the sector increased by 24.4%, while output rose by 21.5%. The fiscal year 2022-23 saw broad-based growth across vital economic indicators, including invested capital, input, output, GVA, employment, and wages, surpassing pre-pandemic levels.

The main drivers behind this growth included industries such as the manufacturing of basic metals, coke and refined petroleum products, food products, chemicals, and motor vehicles. Collectively, these industries contributed approximately 58% of the sector’s total output, showing output growth of 24.5% and GVA growth of 2.6% year-on-year.

Notably, the estimated number of individuals employed in the manufacturing sector in 2022-23 exceeded pre-pandemic levels (specifically, those in 2018-19) by over 22.14 lakh. Additionally, average emoluments for employees in this sector increased, rising by 6.3% compared to the previous year.

In terms of GVA contributions, Maharashtra ranked first for the fiscal year 2022-23, followed by Gujarat, Tamil Nadu, Karnataka, and Uttar Pradesh. This robust growth signals a positive trend for India’s manufacturing sector, highlighting its resilience and recovery in the post-pandemic economy.

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