New Delhi, Nov 16 (PTI): India may have nearly 10 lakh active companies, but less than one-fifth of them are into manufacturing activities and a majority are into business services.
There were around 14.23 lakh companies registered with the Corporate Affairs Ministry, out of which about 9.92 lakh were active at the end of September, shows latest data.
Thousands of new companies are registered every month and September alone saw entry of 6,864 new registered companies.
An analysis of the Ministry data shows that a majority of active companies are into ‘business services’, followed by manufacturing, trading and construction.
Business services refers to information technology, research and development, among their activities.
“Economic-activity wise classification of active companies reveals that highest number of companies are in business services (2.40 lakh) followed by manufacturing (2.11 lakh), trading (1.48 lakh) and construction (1.05 lakh),” according to the Ministry’s monthly bulletin for September.
While India has more number of services companies, the government has embarked on an ambitious ‘Make In India’ campaign to make the country a manufacturing hub.
Meanwhile, out of the 14.23 lakh registered companies, more than 2.60 lakh entities have been shuttered while 1,41,714 entities have not filed their statutory annual filings for three consecutive years.
In terms of states/union territories, Maharashtra had the maximum number of active companies at the end of September at 2.10 lakh, followed by Delhi (1.92 lakh) and West Bengal (1.36 lakh).