India Sees 37% Rise in New Company Registrations in February 2024

New company registrations in India rose 37% year-on-year to 24,136 in February, marking the second highest monthly figure this financial year and reflecting strong entrepreneurial sentiment. Most new firms are closely held private limited companies, primarily in the services sector including IT, consultancies, and professional services. About 248 AI-focused companies were formed in February, highlighting growth in the startup ecosystem. Wholesale and retail trading also saw significant registrations, supported by government digital initiatives. Government company incorporations remained limited and focused on social and utility sectors.