Uttar Pradesh becomes the second state after Maharashtra to register maximum number of new companies post covid-19

Tags: Economy/Finance State News

Uttar Pradesh has become the second state after Maharashtra to register the most number of companies since the outbreak of covid -19. Quoting the Ministry of Corporate Affairs (MCA) data, the Economic Times report says that Uttar Pradesh has left behind  the traditional industrial hub states of Karnataka and Tamil Nadu in adding the number of new companies since the outbreak of covid -19 . 

Main Highlights of the report 

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.

Uttar Pradesh added 30,000 companies in the past three years.

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.