Manufacturing Sector Records 10.88 Percent Growth

Government data shows the manufacturing sector grew at a yearly rate of 10.88 percent from FY23 to FY26. This change happened after the base year for National Accounts Statistics moved to 2022-23. Minister of State Rao Inderjit Singh shared these numbers in the Lok Sabha, noting that recent policy changes are building stronger industrial growth.

Growth Drivers

Several schemes are pushing this growth forward, such as the Production Linked Incentive (PLI) Schemes, PM GatiShakti National Master Plan, and the National Logistics Policy. High-tech industries now make up 46.3 percent of the manufacturing value. Even with a small drop in monthly growth speed, the HSBC India Manufacturing Purchasing Managers Index stays at 53.5. This shows steady demand and export interest.