The government has begun the process of data collection for the Annual Survey of Industries 2023-24, which shall help determine the state of organised manufacturing in the country, which is also used for GDP calculations.
“The Ministry of Statistics and Programme Implementation hereby directs collection of statistics on manufacturing and related activities through a statistical survey, referred to as ‘Annual Survey of Industries 2023-24,” the ministry stated in a notification issued on July 31.
The Annual Survey Industries helps estimate the number of organised manufacturing establishments in the country and the employment, value added of these enterprises.
“Statistics relating to growth, composition and structure of organised manufacturing sector comprising activities related to manufacturing processes, repair services, gas and water supply and cold storage is collected through the Annual Survey of Industries 2023-24,” the notification said.
Results released for FY22 data showed that India’s factory employment crossed pre-Covid levels, with job creation rising 7 percent during the period.
Employment rose to 17.2 million in FY22 from 16.1 million in the previous fiscal.
During this period, gross value added rose 26.6 percent during this period.
The 2022 version of ASI used a sample of 80,764 enterprises. The report also found that total emolument to employees rose 15.9 percent in FY22.
Manufacturing accounts for 16 percent of the economy, with the government planning to raise its share to 25 percent of the GDP.
Besides ASI, the ministry also tracks the performance of unincorporated enterprises using the Annual Survey of Unincorporated Sector Enterprises. The government is also planning to track the Annual Survey of Service Sector firms.
The ASSS is expected to track the performance of formal service industries in the economy.
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