October 2024 Corporate Sector Overview: Insights and Key Highlights
The Ministry of Corporate Affairs (MCA) recently released its October 2024 Monthly Bulletin, shedding light on India’s corporate landscape. This report highlights trends in company registrations, active businesses, and economic contributions across sectors. Here’s a simplified and insightful look at the key findings.
India’s Corporate Landscape at a Glance
- Total Registered Companies: 27,63,420
- Active Companies: 17,80,128 (64% of total registered)
- Closed Companies: 9,45,692
India’s corporate sector is dynamic, with private limited companies forming the majority (96%), accounting for 38% of the total paid-up capital. Meanwhile, public limited companies, though fewer (4%), contribute 62% of the paid-up capital.
Sector-wise Distribution of Active Companies
The economy’s backbone, Business Services, leads with 27% of active companies, followed by:
- Manufacturing: 20%
- Trading: 13%
- Community, Personal & Social Services (CP&S): 12%
Growth Trends:
- The Service Sector experienced the most significant growth in active companies, with CP&S services leading the charge.
- Industrial and agricultural sectors also saw notable growth.
Source: MCA
State-wise Corporate Activity
Among 37 states and union territories:
- Maharashtra dominates with 19% of active companies.
- Delhi follows at 14%, while Uttar Pradesh and West Bengal hold 8% each.
Noteworthy Changes:
- States like Maharashtra, Delhi, and Uttar Pradesh reported increases in active companies.
- Jammu & Kashmir saw a remarkable rise of 70 active companies compared to September 2024.
New Company Registrations in October 2024
- Total Companies Registered: 12,203
- Paid-up Capital: ₹732.51 Crores
Breakdown by Economic Activity:
- Community, Personal & Social Services: 26%
- Trading: 17%
- Business Services: 16%
Source: MCA
Top States for New Registrations:
- Maharashtra: 18% (2,153 companies)
- Uttar Pradesh: 11% (1,331 companies)
- Delhi: 9% (1,037 companies)
Key Trends in Business Structures
One Person Companies (OPC):
- Active OPCs: 61,470 (₹814.75 Crores paid-up capital).
- New OPC Registrations (October 2024): 818 (₹6.69 Crores).
- Most OPCs are in the CP&S sector (31%), with Maharashtra leading in registrations.
Source: MCA
Limited Liability Partnerships (LLPs):
- Active LLPs: 3,60,186
- Registrations (Aug-Oct 2024): 14,865 new LLPs.
- 82% of LLPs have contributions ≤₹5 Lakhs.
- The Service Sector dominates LLP activity, making up 74.43% of registrations.
Source: MCA
Foreign Companies:
- Total Foreign Companies: 5,198
- Active Foreign Companies: 3,277 (63%)
- New entities registered in Maharashtra (50%), Delhi (33.33%), and Gujarat (16.67%) focus primarily on CP&S services, trading, and finance.
Source: MCA
Director Identification Numbers (DINs)
- Total DINs Registered (October 2024): 30,783
- Gender Distribution:
- Male: 68%
- Female: 32%
Age Group Highlights:
The majority (42%) belong to the 31–45 age group, reflecting the youth-driven energy in the corporate sector.
Source: MCA
Final Thoughts
The October 2024 Corporate Bulletin reveals robust growth across India’s corporate ecosystem. The Service Sector continues to lead, while regions like Maharashtra and Delhi show consistent dominance. With a steady rise in registrations and active companies, India’s entrepreneurial spirit and economic resilience shine bright.
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