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Posted 06 Feb 2024

Updated 22 Mar 2024

2 min read

  • ASI is the principal source of Industrial Statistics in India.
    • It is conducted under the Collection of Statistics (COS) Act, 2008. 
    • It covers all factories registered under the Factories Act, 1948. 
      • Also, covers unit under the Bidi and Cigar Workers (Conditions of Employment) Act 1966 etc. 
      • However, defence establishments, oil storage and distribution depots, etc. are not covered under it. 

 

  • Key Highlights 
    • In terms of Gross Value Addition, Gujarat remained at the top, followed by Maharashtra, Tamil Nadu, Karnataka and Uttar Pradesh
    • The top five states in terms of employment are Tamil Nadu, Gujarat, Maharashtra, Uttar Pradesh and Haryana.
    • Manufacturing sector showed resilience even after the disruption caused by the pandemic. 
      • Main driver of resilient included Manufacture of Basic metal, Coke & Refined Petroleum Products, Pharmaceutical Products, Motor vehicles, etc.

 

  • About Manufacturing Sector
    • Contributes around 17% in the Gross Domestic Product (GDP).
      • India aims to increase share to 25% by 2025.
    • There is huge potential exporting manufactured goods.
    • Key Deriving factors: Huge domestic demand, Foreign Direct Investment (FDI), etc. 

 

  • Challenges faced by Sector: Lack of Credit Availability, Low productivity in comparison to other counties like China, Vietnam etc., Informal or unorganised sector, Lack of skilled labour, Infrastructure bottlenecks etc. 

 

Government Initiatives

  • National Manufacturing Policy, 2011
  • Make in India initiative, 2014
  • PM Gati Shakti National Master Plan, 2021
  • Others-Production Linked Incentive scheme, Industrial Corridor Development Programme, etc.
  • Tags :
  • Annual Survey of Industries
  • employment
  • Manufacturing Sector
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