Survey Findings
Survey shows jobs in manufacturing sector rose 7.4% YoY in FY23, wages increased 6.3%
This story was originally published at 21:52 IST on 30 September 2024
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NEW DELHI – The number of people employed in the manufacturing sector rose 7.4% on year in 2022-23 (Apr-Mar), according to the Annual Survey of Industries, the results of which were released Monday. The average wages paid to workers in the manufacturing sector also rose 6.3% on year in FY23.
The estimated number of people engaged in the manufacturing sector increased to 18.49 million in FY23 from 17.22 million in FY22. The number of workers in this sector exceeded the levels seen in the pre-pandemic year of FY19 by over 2.21 mln, data showed. The food products sector had the largest employment in FY23, followed by the textiles sector, and basic metals.
The five states employing the highest number of workers in the manufacturing sector in FY23 were Tamil Nadu, Maharashtra, Gujarat, Uttar Pradesh, and Karnataka. These five states contributed about 55% of the total manufacturing employment, the statistics ministry said.
The results of the survey also showed that the Gross Value Added grew by 7.3% on year at current prices in FY23. The increase in input in the manufacturing sector was 24.4% on year, and output grew by 21.5%. "The year FY23 witnessed growth in this sector for majority of the important economic parameters like invested capital, input, output, GVA, employment and wages and even surpassed the pre-pandemic level in absolute value terms," the ministry said in a release.
Growth in the manufacturing sector in FY23 was led by basic metal, coke and refined petroleum products, food products, chemical and chemical products, and motor vehicles, the ministry said. "These industries, taken together, contributed about 58% of the total output of the sector and showed output growth of 24.5% and GVA growth of 2.6% in comparison to FY22." End
Reported by Shubham Rana
Edited by Rajeev Pai
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