India’s formal manufacturing sector recorded broad-based growth in 2024-25, with GVA rising 9.6% to ₹26.9 lakh crore and industrial output increasing 7.8% to ₹165.2 lakh crore, according to the Annual Survey of Industries. Invested capital grew 11.1% to ₹75.6 lakh crore, while the number of establishments rose 2.6%.