Ministry of Corporate Affairs Reports Record Incorporations In FY24

The Ministry of Corporate Affairs (MCA) has revealed that the fiscal year 2023-2024 witnessed the highest number of incorporations on record.

The ministry has  witnessed the highest number of incorporations in the recent fiscal year and the post has been shared by the ministry on Twitter stating, “MCA records the highest number of incorporations during 2023-2024, surpassing any of the previous financial years.”

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According to the latest data released by the ministry, in the financial year 2023-24, 185,314 companies were incorporated, which is higher than the 159,339 companies incorporated in the previous financial year.

Additionally, the incorporation of Limited Liability Partnerships (LLPs) also witnessed an increase during the same period. The data shows that 58,990 LLPs were incorporated in the fiscal year 2023-2024, compared to 36,249 LLPs incorporated in the preceding year.

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These statistics indicate a significant rise in the number of entities joining the corporate ecosystem, which highlights a thriving business environment and investor confidence

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