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Less than a fifth of Indian firms are into manufacturing

Posted: 17 Nov 2014 ?? ?Print Version ?Bookmark and Share

Keywords:manufacturing? registered companies? business services?

India is proud to have close to 10 lakh active companies. However, majority are into business services, while less than one-fifth is into manufacturing, The Hindu Business Line reported.

The Corporate Affairs Ministry revealed around 14.23 lakh registered companies, and about 9.92 lakh were active as of September. Every month, the Ministry sees thousands of new companies being listed. In September alone, 6,864 companies were recorded.

Data analysis bares that most active companies are into business services (2.40 lakh), which refers to information technology, research and development, as some of their activities. This is followed by manufacturing (2.11 lakh), trading (1.48 lakh) and construction (1.05 lakh).

Just recently, the Central Government has initiated the "Make In India" campaign to turn the country into a manufacturing hub.

Out of the 14.23 lakh registered companies, those that were closed number at more than 2.6 lakh entities. Meanwhile, 1,41,714 companies failed to file their statutory annual filings for three consecutive years.

The three States/Union Territories with the most active companies at the end of September are Maharashtra (2.10 lakh), Delhi (1.92 lakh) and West Bengal (1.36 lakh).

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