New Delhi, Aug. 27 -- The productivity of Indian industries has shown a sharp rise despite economic challenges, with gross value added (GVA) of domestic factories jumping 11.9% to Rs.24.58 trillion in FY24, the latest Annual Survey of Industries (ASI) released on Wednesday showed.

GVA of domestic factories stood at Rs.21.97 trillion in FY23.

The GVA is defined as the additional value created by the process of production. This is calculated by deducting the value of total input from total output.

Higher productivity also meant industries scaled operations resulting in increased employment opportunities. Consequently, employment in industries increased 5.92% to 19.5 million in FY24, from 18.4 million in FY23, the ASI said.

The survey st...