Over 185,000 Companies Incorporated: Record FY24

A record-breaking number of companies were incorporated in India during the financial year 2023-24, with more than 1.85 lakh new companies and 58,990 Limited Liability Partnerships (LLPs) established by 31 March. 

According to a statement from the corporate affairs ministry posted on X, this figure surpasses the incorporation rates of any previous financial year. In comparison, the preceding fiscal year saw the establishment of 1,59,339 companies and 36,249 LLPs. 

This significant increase in business formations highlights the growing entrepreneurial spirit and economic activity in the country.