ET Graphics: Earnings Rise as Select States Surge Ahead

Quick summary

• Factory jobs in India have seen a important rise in average pay, increasing by 28.9%, from rs 2.8 lakh annually in 2018-19 to Rs 3.7 lakh annually in 2023-24.
• Sikkim leads as the highest-paying state,with an average salary of Rs 7.1 lakh per person – nearly double the national average.
• Over the last six years, employment in India’s manufacturing sector has grown by 20.3%, with Uttar Pradesh recording the most significant increase among states and union territories (UTs).

!Average Emoluments Per Person Engaged
!Change In Total Persons Engaged Between 2018-19 & 2023-24

Indian Opinion Analysis
The growth trends highlighted by the Annual Survey of Industries suggest positive advancements for India’s manufacturing sector both in terms of compensation and job creation over six years as FY2018-19. An upward revision of wages, coupled with increasing employment figures, indicates a strengthening industrial ecosystem that could be crucial for inclusive economic advancement across states like Uttar pradesh leading on job growth or Sikkim excelling on wage metrics.While wage improvements might enhance worker satisfaction and retention, they also reflect growing productivity or profitability within factories – essential building blocks for sustained expansion not only domestically but exporting competitiveness longer-term globally too when solid policies encouraging cross-border reforms intra-regional dimensions strategically further boosted seamlessly effectively possibly..

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