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Over 1.68 lakh new business registered in India this year, Check Full Data


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India experienced a significant increase in new business registrations during the financial year 2024. Over 1.68 lakh companies were established, indicating a strong entrepreneurial spirit and economic growth in the country. The total paid-up capital for these companies reached Rs. 19,774 crore, showing a substantial rise from the previous year’s figure of Rs. 18,132.16 crore. It is worth noting that the month of February witnessed the highest number of registrations for the entire year.

Leading States and Sectors

Among the states, Maharashtra emerged as the leader, accounting for 18% of all new companies registered in FY 2024. Uttar Pradesh and Delhi followed closely, contributing to 11% and 9% of registrations, respectively. In terms of sectors, the business services sector dominated the landscape, comprising over 70% of the total new company registrations in February.

State-Owned Companies and Government’s Role

Several state-owned companies were also registered in February, including ONGC Green, PFC Infra Finance IFSC, IRCTC Payments, Indbank Global Support Services, Jamnagar Transmission, and Bhadla III & Bikaner III Transmission. These details were confirmed by official data from the Ministry of Corporate Affairs, highlighting the government’s continued efforts to foster business growth in the country.

Small Businesses and Informal Sector

The average paid-up capital for companies registered in FY 2024 is Rs. 11.72 lakh, indicating that small businesses are a significant driver of new registrations. It showcases the entrepreneurial spirit and the vital role played by small businesses in the Indian economy. Moreover, the large informal sector also contributes significantly, with over 60 million unincorporated non-agriculture micro, small, and medium enterprises, providing over 11 million jobs.

Sector Breakdown and Agriculture Growth

In terms of sectors, more than a fourth of all companies registered in February are involved in community, personal, and social services. The trading and manufacturing sectors accounted for 16% and 15% of registrations, respectively. The agriculture sector also experienced growth with the formation of 937 new companies during the same period, indicating positive developments in this crucial sector.

Inactive and Liquidated Companies

Despite the surge in new registrations, not all companies remain active. As of the end of February, over 26,000 companies are in the process of being removed from the official registry for failing to file annual returns for two consecutive years. Additionally, 10,377 companies are currently under liquidation, primarily consisting of defunct entities. This highlights the importance of compliance and the need for companies to meet their obligations to remain in operation.

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