Unincorporated sector establishments rise from 6.50 crore in 2022-23 to 7.34 crore in 2023-24

The Ministry of Statistics and Programme Implementation (MoSPI) has released the results of the Annual Survey of Unincorporated Sector Enterprises (ASUSE) 2023-24, covering the reference period October 2023 to September 2024. It noted that the Indian unincorporated sector has shown robust growth, with the number of establishments rising from 6.50 crore in 2022-23 to 7.34 crore in 2023-24, a remarkable 12.84% increase. The number of establishments in the Other Services sector recorded a growth of 23.55% followed by a 13% increase witnessed by the manufacturing sector. During the same period, the Gross Value Added (GVA) which is a key indicator of economic performance rose by 16.52% driven by a 26.17% growth in 'other services' sector.