India: Manufacturing, value added (constant 2015 US$)

Key figures

What the numbers say

In 2025, India's manufacturing, value added (constant 2015 US$) rose 11.5% on 2024 (from US$533.71 billion to US$595.25 billion).

Across the 30 yearly changes before that (1995 to 2024), the average change was +6.9% and a typical year strayed about 4.6% from that (the standard deviation). This year's change was 1.0 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.

On record, the biggest yearly rise was 17.8% in 2006 and the biggest yearly fall was 3.2% in 1979. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2016 to 2025 the straight-line trend is upward, about US$23.36 billion a year. A straight line explains 87% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

A straight-line projection, tested first

Extending that straight line gives about US$614.21 billion for 2028. We show this only because the same method, fitted on earlier years, predicted 2023 to 2025 better than "no change" would have: its average miss was US$48.46 billion, against US$105.82 billion for assuming no change. Treat it as a continuation of the recent pattern, not a forecast of events: it cannot see a recession, a policy change or a revision to the data.

See how a linear trend forecast works and the guide on forecasting without fooling yourself.

How it compares

In 2025, India had the 3rd highest value of the 136 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to India in the 2025 ranking

• Germany — 1st of 136: US$703.85 billion
• Korea, Rep. — 3rd of 136: US$546.69 billion
• United Kingdom — 4th of 136: US$305.69 billion
• Italy — 5th of 136: US$287.19 billion

What this measures

Manufacturing includes industries classified in ISIC (Rev. 3) major division C and is defined as the physical or chemical transformation of materials or components into new products. Value added is the contribution to the economy by a producer or an industry or an institutional sector, which is estimated by the total value of output produced and deducting the total value of intermediate consumption of goods and services used to produce that output. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment is 2015. This indicator is expressed in United States dollars.

Limitations: Ideally, industrial output should be measured through regular censuses and surveys of firms. But in most developing countries such surveys are infrequent, so earlier survey results must be extrapolated using an appropriate indicator. The choice of sampling unit, which may be the enterprise (where responses may be based on financial records) or the establishment (where production units may be recorded separately), also affects the quality of the data. Moreover, much industrial production is organized in unincorporated or owner-operated ventures that are not captured by surveys aimed at the formal sector.

Regional and income-group figures are computed by the World Bank as a gap-filled total.

All 66 values

Manufacturing, value added (constant 2015 US$) in nearby economies

• Bangladesh — US$73.06 billion (2025)
• Bhutan — US$150.61 million (2024)
• Maldives — US$113.34 million (2025)
• Nepal — US$1.67 billion (2025)
• Sri Lanka — US$15.99 billion (2025)

More economic policy & debt data for India

• Total reserves, including gold (current US$) — US$700.07 billion (2025)
• Total reserves, excluding gold (current US$) — US$576.45 billion (2025)
• General government final consumption expenditure (current US$) — US$426.05 billion (2025)
• General government final consumption expenditure (current LCU) — 37.21 trillion (2025)
• General government final consumption expenditure (constant 2015 US$) — US$341.19 billion (2025)
• General government final consumption expenditure (constant LCU) — 32.99 trillion (2025)
• General government final consumption expenditure (% of GDP) — 10.77% (2025)
• Households and NPISHs final consumption expenditure (current US$) — US$2.24 trillion (2025)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is India's manufacturing, value added (constant 2015 US$)?

US$595.25 billion in 2025, according to the World Bank (World Development Indicators).

How has it changed since 1960?

It is up 4,276% from US$13.6 billion in 1960 (5.99% a year on average, compounded). The highest value was US$595.25 billion in 2025 and the lowest US$13.6 billion in 1960.

Source

World Bank, World Development Indicators, indicator NV.IND.MANF.KD, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Offices (NSOs); National Accounts data files, Central Banks; Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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