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CapitalVia Research Desk ·
Data story · 27 Oct 2026
Annual Survey of Industries 2024-25 · MoSPI

Of every ₹100 a factory adds, ₹43 is profit. Shop-floor wages get ₹14.

India’s 2.67 lakh registered factories added ₹26.9 lakh crore of value in 2024-25 and hired 14 lakh more people. Here is where that value went.

₹42.9

net profit out of every ₹100 of gross value added

₹14.1

wages to shop-floor workers — 1.67 crore people

Where ₹100 of factory value goes

Share of gross value added, registered manufacturing, 2024-25

Net profit₹42.9
All staff pay — managers to shop floor₹29.8
↳ of which: shop-floor workers’ wages₹14.1
Depreciation (wear on machines)₹14.6
Everything else — interest, rent, PF & welfare*₹12.7
₹0₹50₹100

The same split, per head, per month

2.10 crore people engaged; 1.67 crore of them shop-floor workers

Value added per person₹1,06,928
Net profit per person₹45,873
Pay per person (all staff)₹31,871
Wage per shop-floor worker₹19,003

Wages kept climbing. Profit per head stopped.

Monthly wage per shop-floor worker vs annual net profit per person engaged

YearWage/moProfit
2020-21
₹14,730₹3.82 L
2021-22
₹16,199₹5.52 L
2022-23
₹17,098₹5.28 L
2023-24
₹18,041₹5.48 L
2024-25
₹19,003₹5.50 L

Wages per worker: +29% since 2020-21, +17% since 2021-22. Total factory profit: +88% since 2020-21 — but almost all of that came in the post-Covid rebound year (2020-21 base).

₹5.5 lakh

Net profit per person engaged in 2024-25 — no higher than in 2021-22. Factories grew by adding people and capital, not by earning more on each of them.

₹5.52 L (2021-22) → ₹5.50 L (2024-25). Invested capital rose 11.1% last year; net profit rose 7.7%.

What it means for you

SalariedThe average shop-floor wage rose 5.3% last year, to ₹19,003 a month. Total pay for all staff, managers included, works out to ₹31,871.
FoundersA useful benchmark: each person in a factory adds about ₹12.8 lakh of value a year, and payroll takes about 30% of it.
Business leadersProfit per head has been flat for three years at about ₹5.5 lakh, while fixed capital per person is ₹24.3 lakh. Scale is rising faster than returns.

Source: National Statistics Office, MoSPI — Press Note, “Annual Survey of Industries: Insights from ASI 2024-25”, 30 Sep 2026, Table 3 (values in current prices). static.pib.gov.in/…/doc_10046_20260930_15513601.pdf

How we calculated: every share, per-person and per-month figure is CapitalVia’s arithmetic on MoSPI’s Table 3 totals (e.g. wages to workers ₹3.80 lakh crore ÷ GVA ₹26.94 lakh crore = 14.1%). “Workers” = persons directly in manufacturing; “all staff pay” = MoSPI’s total emoluments. *“Everything else” is the residual after profit, emoluments and depreciation (₹12.7), so it bundles interest, rent and PF/welfare contributions. All of MoSPI’s headline growth rates re-checked against Table 3: they match; no corrections needed.

Estimates: ASI results are sample-survey estimates (MoSPI notes small standard errors). No figure here is modelled or projected. Figures are not adjusted for inflation. 2020-21 was a Covid-hit year, which inflates growth measured from it.

A data explainer for general education. Not investment, tax or legal advice.

© CapitalVia Global Research Limited · capitalvia.com

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