Context:
The results of the 2023-24 Annual Survey on Unincorporated Sector Enterprises (ASUSE) were released for the Reference & Survey period October 2023 to September 2024.
Key Highlights of the ASUSE 2023-24 Survey
- This survey sheds light on key areas like job creation, gender empowerment, digital transformation, financial inclusion, and the push for businesses to go formal.
- The number of establishments in the unincorporated non-agricultural sector grew by 12.84%, reaching 7.34 crore, showing that small businesses are becoming a bigger part of India’s economy.
- The workforce in this sector increased by over 1 crore, bringing the total to 12 crore, signalling that more people are finding work in informal, non-agricultural roles.
- Female-headed establishments in manufacturing rose by 4% from the previous year, and women now make up 28.12% of the workforce, which shows that gender inclusivity is growing in this space.
- Gross Value Added (GVA) increased by 16.52%, driven by a 26.17% rise in “other services” sector, reflecting the rising importance of small-scale services in the economy.
- More businesses are using the internet, business-related internet use grew from 21.10% to 26.70%, especially in urban areas, indicating that digital tools are becoming essential for business operations.
- The average value of fixed assets per establishment went up, and outstanding loans grew by around 7%, showing that small businesses are becoming financially stronger and having better access to capital.
- Retail trade still dominates, making up around 27% of businesses, followed by apparel manufacturing (around 12%). Other service sectors like healthcare and education are also growing.
Annual Survey of Unincorporated Sector Enterprises (ASUSE)
- ASUSE is conducted by the Ministry of Statistics and Programme Implementation (MoSPI).
- It focuses on assessing the economic and operational characteristics of unincorporated non-agricultural establishments across the manufacturing, trade, and services sectors
Key Objectives:
- Gather detailed information on the structure and functioning of unincorporated enterprises.
- Assess their contribution to GDP and employment.
- Analyze trends and developments over time.