Unincorporated sector enterprises witnessed over 12% growth in 2023-24

New Delhi [India], December 25 (ANI): The total number of unincorporated sector enterprises in the country grew substantially from 6.50 crore in 2022-23 to 7.34 crore in 2023-24, representing a healthy 12.84 per cent growth, according to the Ministry of Statistics & Programme Implementation (MoSPI) data.
As per a ministry release, the number of establishments in the "Other Services" sector recorded a growth of 23.55 per cent, followed by a 13 per cent increase witnessed by the manufacturing sector.
This significant increase highlights consistent sectoral expansion and reinforces the sector's critical role in driving the overall growth of the unincorporated sector.
As per MoSPI's Annual Survey of Unincorporated Sector Enterprises (ASUSE) for 2023-24 for the reference period October 2023-September 2024, referred to as ASUSE 2023-24, the labour market has shown strong market performance.
The sector employed more than 12 crore workers between October 2023 and September 2024, marking an increase of more than one crore workers from 2022-23 and reflecting robust labour market growth.
Among the broad activities, the "Other Services" sector showed the highest annual growth of 17.86 per cent, followed by 10.03 per cent by the manufacturing sector.
The percentage of female-owned proprietary establishments has increased from 22.9 per cent in 2022-23 to 26.2 per cent in ASUSE 2023-24. This trend indicates a positive shift in the participation of women in business ownership, highlighting an increase in female entrepreneurship over the given period.
The average emolument per hired worker also increased by 13 per cent in 2023-24 compared to the previous year, 2022-23, signalling improvements in wage levels. This wage growth serves as a catalyst, strengthening the labour market, enhancing productivity, and fuelling broader economic demand. The highest increase in this metric was observed in the manufacturing sector with a growth of a little more than 16 per cent.
The percentage of establishments using the internet has also grown significantly from 21.1 per cent in 2022-23 to 26.7 per cent in ASUSE 2023-24.
This substantial growth reflects a strong trend toward digital adoption among establishments, highlighting the increasing reliance on the Internet for business operations.
ASUSE is carried out with the primary objective of measuring various economic and operational characteristics of unincorporated non-agricultural establishments in manufacturing, trade and other service sectors (excluding construction).
The survey collects data on various economic characteristics of this sector including the number of workers, GVA, emoluments paid, fixed assets owned, and outstanding loans, besides, different types of operational characteristics such as type of ownership, nature of the operation, registration status, use of ICT, etc.
The data serves as a key input for policymaking, supporting National Accounts Statistics, fulfilling the requirements of Ministries such as M/o Micro, Small and Medium Enterprise (MSME), Textiles, Labour & Employment, and empowering stakeholders to make informed, data-driven decisions. (ANI)