New Delhi, Aug 12: India’s manufacturing sector recorded 10.88 per cent growth in Gross Value Added (GVA) during 2022-23 to 2025-26, according to government data based on the revised national accounts series.
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The figures point to a strong expansion in manufacturing activity over the three-year period, as the sector continues to play an important role in India’s broader economic growth.
The government has been focusing on strengthening domestic manufacturing through initiatives aimed at attracting investment, improving infrastructure and supporting businesses across key industrial segments.
Schemes such as the Production Linked Incentive programme have encouraged investment in areas including electronics, automobiles, pharmaceuticals and other strategic industries. At the same time, improvements in logistics and connectivity are helping manufacturers reach both domestic and international markets more efficiently.
The revised national accounts series uses 2022-23 as its base year and provides an updated assessment of economic activity across different sectors.
The manufacturing sector is also gradually moving towards more technology-intensive production. This includes growing activity in electronics, advanced engineering, semiconductors and other high-value industries.
For businesses, this shift is creating new opportunities while also increasing the need for investment in modern technology, skilled workers and efficient production systems.
The government has also been seeking to strengthen domestic supply chains and encourage Indian manufacturers to become more integrated with global value chains. Greater participation in global manufacturing could help expand exports and create new employment opportunities.
The latest GVA figures provide an encouraging picture of manufacturing performance under the revised measurement framework. However, maintaining this momentum will depend on continued investment, stable supply chains, access to skilled talent and the ability of Indian companies to remain competitive.
With manufacturing expected to remain central to India’s long-term growth plans, the sector’s performance will continue to be closely watched as the country works to build a stronger and more globally competitive industrial base.