Unincorporated Sector Shows Significant Growth in Latest Government Survey

The Gross Value Added (GVA) of unincorporated sector enterprises grew by 9.83% from October 2022 to September 2023 compared to the previous year, as per a government survey. The number of establishments and internet usage for entrepreneurial purposes also saw notable increases during the same period.

In a noteworthy development, the Gross Value Added (GVA) in the unincorporated sector enterprises surged by 9.83% between October 2022 and September 2023, when compared to the April 2021-March 2022 period, according to a recent government survey.

The Annual Survey of Unincorporated Sector Enterprises (ASUSE) reveals that Maharashtra, Uttar Pradesh, and Tamil Nadu led the sector in terms of GVA. Additionally, the number of establishments rose from 5.97 crore in 2021-22 to 6.50 crore in 2022-23, marking a 5.88% annual growth rate.

The unincorporated non-agricultural sector employed about 11 crore workers, with notable contributions from states like Uttar Pradesh, Maharashtra, and West Bengal, the survey found. Further, more than half of proprietary establishments in manufacturing were headed by female entrepreneurs, underscoring the vital role of women in this sector.

(Disclaimer: With inputs from agencies.)