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Over 1.85 Lakh Companies Registered in India Last Fiscal Year

2 weeks ago

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Official data released by the Corporate Affairs Ministry unveils a significant surge in company registrations across India, with over 1.85 lakh companies registered in the last fiscal year. 

This spike mirrors the dynamic economic activity and evolving business landscapes within the country, signaling positive momentum in the entrepreneurial ecosystem. 


Fiscal Overview

In the fiscal year 2023-24, a staggering total of 1,85,312 companies were registered, collectively amassing a paid-up capital of Rs 30,927.40 crore. 

This marks a notable increase compared to the preceding year, highlighting a robust entrepreneurial ecosystem and growing investor confidence. 


Sector-wise Distribution

The services sector emerged as the frontrunner, claiming 71% of the newly registered companies, followed by the industrial segment at 23% and agriculture at 6%. 

Notably, community, personal, and social services witnessed the highest surge of 11% within the service sector. 


Geographical Insights

Maharashtra takes the lead in new company registrations, accounting for 17.6% of the total companies established in the fiscal year 2023-24. This underscores Maharashtra’s status as a prominent business hub and its conducive business environment. 

Status of Active Companies

Out of the total registered companies, 64% remained active as of March 2024. However, 9,31,644 companies were closed, emphasizing the dynamic nature of business operations and market dynamics. 


Foreign Company Registrations

A total of 5,164 foreign companies were registered in India, with 64% of them being active entities. This highlights India’s attractiveness as a destination for foreign investment and business expansion. 


Director Demographics

In March 2024, 42,041 Director Identification Numbers were registered, with 67% of directors being male and 33% female. 

Notably, 43% of newly registered directors fell within the age group of 31-45 years, showcasing a blend of experienced professionals and young talent. 

This surge in company registrations reflects a vibrant entrepreneurial spirit and a conducive regulatory environment in India. As businesses continue to evolve and innovate, these insights provide on-ground perspectives on the country’s dynamic corporate landscape.