Telangana surges in corporate landscape: Records fourth-highest YoY growth in active companies
The data, released in the month of November, highlighted the state's vibrant entrepreneurial ecosystem, showing it has recorded the fifth-highest increase in the number of newly registered companies among the top 10 industrialized states between November 2022 and November 2023.
Hyderabad: Telangana has emerged as a key player in India’s corporate landscape, according to a recent report by the Ministry of Corporate Affairs.
The data, released in the month of November, highlighted the state’s vibrant entrepreneurial ecosystem, showing it has recorded the fifth-highest increase in the number of newly registered companies among the top 10 industrialized states between November 2022 and November 2023.
In terms of year-on-year growth, Telangana secured the fourth position with an impressive 11.3 percent increase in the number of active registered companies during the same period.
As of November 30, 2023, the State boasts a total of 1,52,691 registered companies, with 94,572 currently active, 56,426 closed, 391 under liquidation, 1,213 in the process of striking off, and 89 classified as dormant under Section 455 of the Companies Act, 2013.
The report also underlines Telangana’s attractiveness to overseas businesses, with 6 per cent of new foreign entities choosing the state as their base between September 2023 and November 2023.
The total number of foreign companies registered in India by November 30, 2023, stands at 5,146, with an impressive 64 per cent (3,298) of them being active. Delhi leads with 35 percent of new foreign entities, closely followed by Maharashtra with 29 per cent. Haryana, Gujarat, Uttarakhand, and Uttar Pradesh each account for 12 per cent, 6 per cent, 6 per cent, and 6 per cent, respectively.
Looking at the national scenario, the overall business growth trajectory is positive. As of November 30, 2023, a total of 2,599,660 companies were registered across the country. Notably, 63 per cent (1,640,160) of these companies remain active, reflecting a slight increase of 0.11 per cent in the proportion of active companies compared to October 2023.
