Balanced approach

Manufacturing needs growth and diversification

The Ministry of Statistics and Programme Implementation recently released the results of the Annual Survey of Industries (ASI) for 2020-21 and 2021-22. Notably, in both these years, the Indian economy was facing disruption related to the Covid-19 pandemic. However, the results exhibit the resilience of India’s manufacturing sector in terms of input use, output, and profits. The ASI extends to the entire country and remains the principal source of industrial statistics. It considers units employing 10 or more workers using power and the ones employing 20 or more workers without using power. The manufacturing sector contributes around 17 per cent