New Delhi, Feb 4 (PTI) – A total of 17,654 companies have been closed down in the ongoing financial year up to January 26, 2025, while 1,38,027 new firms have been registered during the same period, according to official data shared in the Rajya Sabha on Tuesday.
The figures were provided by Minister of State for Corporate Affairs Harsh Malhotra in a written reply, highlighting the dynamics of company registrations and closures in India.
As per the data, the 17,654 companies shut down include firms that were amalgamated, converted into Limited Liability Partnerships (LLPs), liquidated, dissolved, or struck off from official records. In comparison, the number of shuttered firms stood at 22,044 in 2023-24 and 84,801 in 2022-23.
The data was disclosed in response to questions raised by YSR Congress Party (YSRCP) Rajya Sabha member Parimal Nathwani.
Under the Companies Act, which is overseen by the Ministry of Corporate Affairs, businesses are registered and regulated. The ministry is also responsible for implementing the Limited Liability Partnership (LLP) Act.
In terms of new company registrations, 1,38,027 companies have been incorporated in the ongoing financial year till January 26. The corresponding numbers stood at 1,85,318 in 2023-24 and 1,59,302 in 2022-23, reflecting fluctuations in the corporate sector.
Minister Malhotra also stated that the government has undertaken several measures to enhance the ease of doing business, including the decriminalization of 63 offences under the Companies Act and LLP Act.
These statistics highlight the evolving business environment in India, with a steady influx of new companies even as a significant number of firms shut down or transition into different legal structures.
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