Startup Boom In India: Record 1.85 Lakh Companies Registered In 12 Months Across Country!
Official data reveals a significant uptick in company registrations across India, with more than 1.85 lakh companies registered in the last fiscal year. This surge in registrations reflects dynamic economic activity and evolving business landscapes within the country.
Fiscal Overview: In the fiscal year 2023-24, a 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, accounting for 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 led the charts in terms of new company registrations, with 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% were active as of March 2024. However, 9,31,644 companies were closed, emphasizing the fluid 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.
Conclusion: The 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 valuable perspectives on the country’s dynamic corporate landscape.
Bytrak
