Manufacturing Sector
Employment, wage growth in mfg sector slows down in FY24, survey shows
This story was originally published at 17:20 IST on 27 August 2025
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NEW DELHI – The pace of employment generation in India's manufacturing sector slowed down to a three-year low in 2023-24 (Apr-Mar), along with a slower pace of rise in average wages, according to the Annual Survey of Industries, the results of which were released by the statistics ministry on Wednesday.
The number of people employed in the manufacturing sector rose 5.9% on year in FY24, slower than the 7.4% rise in FY23. The sector employed 19.59 million in FY24, nearly 3 million more than the workers engaged in the pre-pandemic year of FY19.
Within the manufacturing sector, the food products sector employed the most workers in FY24, followed by the textiles sector, and basic metals. The manufacturing sector has added around 5.7 million jobs in the 10 years ended FY24.
The average wages paid to workers in the manufacturing sector rose at a three-year low pace of 5.6% in FY24. Emoluments per person engaged had risen 6.3% in FY23. On average, a worker in the manufacturing sector earned INR 365,748 in FY24.
The five states that employed the most workers in the manufacturing sector in FY24 were Tamil Nadu, Gujarat, Maharashtra, Uttar Pradesh, and Karnataka. These five states contributed over 55% of the total manufacturing employment in FY24.
The survey's results also showed that the gross value added grew 11.9% on year at current prices in FY24. India's real GDP grew 9.2% in FY24, while the overall GVA at constant prices rose 8.6%. Nominal GDP growth was 12.0% in FY24.
Industrial output grew more than 5.8% in FY24. GVA growth in the sector in FY24 was led by basic metals, motor vehicles, chemical and chemical products, food products, and pharmaceutical products. End
Reported by Shubham Rana
Edited by Avishek Dutta
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