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India’s industrial sector is growing at a fast pace, NITI Aayog CEO said while releasing the Annual Survey of Industries
The report was released by the Ministry of Statistics and Programme Implementation for the financial year 2022-23.
The manufacturing sector added 2.2 million jobs in the financial year 2022-23.
Gross Value Added (GVA) grew by 7.3% in current prices from 2021-22 to 2022-23, indicating strong economic performance.
Inputs in the industrial sector rose by 24.4%.
Output increased by 21.5%.
Main drivers of this growth were industries like manufacture of basic metal, coke and refined petroleum products, food products, chemical and chemical products, and motor vehicles.
Maharashtra leads in GVA, followed by Gujarat, Tamil Nadu, Karnataka, and Uttar Pradesh.
These top five states account for over 54% of the country's manufacturing GVA
Average earnings in the industrial sector increased by 6.3% compared to the previous year.
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