New Delhi: Between July 2015-June 2016 and October 2022-September 2023, unincorporated enterprises in the manufacturing sector lost around 5.4 million jobs and 1.8 million establishments, an analysis of data from the National Statistical Office (NSO) has showed.
An analysis of the fact sheet on ‘Annual Survey of Unincorporated Sector Enterprises (ASUSE)’ and the comparable 73rd round survey in 2015-16 by the NSO indicated that the number of unincorporated enterprises went down by 9.3 per cent during this seven-year period, reported Business standard.
While around 17.82 million unincorporated enterprises operated in the manufacturing sector in October 2022-September 2023, the figure was 19.7 million in July 2015- June 2016, reflecting a decrease of 9.3 per cent.
A corresponding decrease was seen in the number of workers engaged by these establishments, with this figure declining by nearly 15 per cent to 30.6 million (2022-23) from 36.04 million (2015-16), reported Business Standard.
Small businesses, sole proprietorships, partnerships and businesses in the informal sector are collectively referred to as unincorporated enterprises as they are not legally incorporated as separate legal units.
The analysis of the NSO data also reveals that the number of unincorporated establishments in the trading sector went down by 2 per cent to 22.5 million in October 2022-September 2023 as compared to 23.05 million in July 2015-June 2016.
However, the number of workers engaged in the sector registered a slight increase to 39 million from 38.7 million during the same time period, reported Business Standard.
