State of industry in India
Last week, the National Statistical Office (NSO) released the outcome of the latest Annual Survey of Industries (2021-2022) . The survey results provide important insights into the current state of the Indian industry. Some key highlights of the survey results are as follows: · Growth : The year 2021-22 witnessed a sharp rise in level as well as in the growth of the majority of the important economic parameters like invested capital, input, output, GVA, net income, and net profit registered by the sector and even surpassed the pre-pandemic level in absolute value terms. · The main drivers of this growth in 2021-22 were industries like the Manufacture of Basic metal, Coke & Refined Petroleum Products, Pharmaceutical Products, Motor vehicles, Food Products and Chemical and Chemical products. These industries, taken together, contributed about 56% of the total GVA of the sector and s...