UP has added the most number of new companies after Maharashtra since the outbreak of Covid-19, beating industrial hubs such as Delhi, Karnataka and Tamil Nadu, data combined by the corporate affairs ministry (MCA) show.
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What The Report Pointed:
Uttar Pradesh is the third ranked state in terms of number of active companies behind Maharashtra and Delhi. Uttar Pradesh is home to 1.08 lakh active companies as of September end while Maharashtra and Delhi have 3 lakh and 2.2 lakh active companies respectively.
Karnataka and Tamil Nadu are at fourth and fifth with 1.04 lakh and 99,038 active companies respectively.
In the post-pandemic phase, UP has overtaken Karnataka, Tamil Nadu and Telangana. Uttar Pradesh added 30,000 companies in the past three years, which helped it emerge the third state in terms of number of active companies behind only Maharashtra and Delhi. Maharashtra on the other hand added 60,000 new companies in the past three years and continues to be on the top. Maharashtra’s dominance comes largely from the fact that its capital, Mumbai is the financial capital of India and serves as a hub for several mid-size and big companies.