India's FY23 manufacturing sector employment up 7.5% to 18.49 mn: Govt

The figures were 16.08 million in FY21, 16.62 million in FY20 and 16.28 million in FY19.

FY23 saw growth in this sector for most economic parameters like invested capital, input, output, gross value added (GVA), employment and wages and it even surpassed the pre-pandemic level in absolute value terms.

The estimated number of persons engaged in this sector in FY23 exceeded the pre-pandemic level (FY19) by over 2.214 million, a release from the ministry said.

Average emolument per person engaged in this sector went up by 6.3 per cent in FY23 compared to FY22.

GVA grew by 7.3 per cent at current prices in FY23 over FY22.

The increase in input was 24.4 per cent, while output grew by 21.5 per cent in the manufacturing sector in FY23 over FY22.

Among the major states, Maharashtra ranked first in FY23 in terms of GVA, followed by Gujarat, Tamil Nadu, Karnataka and Uttar Pradesh. The top five states, taken together, contributed more than 54 per cent to the total manufacturing GVA of the country in FY23.

The top five states employing the highest number of persons in this sector were Tamil Nadu, Maharashtra, Gujarat, Uttar Pradesh and Karnataka in FY23. These states together contributed about 55 per cent to the total manufacturing employment in FY23.

Fibre2Fashion News Desk (DS)