The Ministry of Corporate Affairs (MCA) has revealed that the fiscal year 2023-2024 witnessed the highest number of incorporations on record.
In a post shared on X, the ministry stated, “MCA records the highest number of incorporations during 2023-2024, surpassing any of the previous financial years.”
According to data released by the ministry, 185,314 companies were incorporated in FY 2023-24, surpassing the 159,339 companies incorporated in the previous financial year.
Similarly, the incorporation of Limited Liability Partnerships (LLPs) also witnessed an uptick during the same period. The data indicates that 58,990 LLPs were incorporated in the fiscal year 2023-2024, compared to 36,249 LLPs incorporated in the preceding year.
The statistics reveal a notable increase in the number of entities joining the corporate ecosystem, reflecting a vibrant business environment and investor confidence.
(Inputs from ANI)