Gujarat was picked over Maharashtra for Vedanta and Foxconn’s semiconductor plant. The companies were in talks with the Maharashtra government earlier and it looked like both the parties would sign the MoU soon but Gujarat emerged as the winner at the last moment. But this time, Maharashtra won the race.
This one, is about the number of Limited Liability Partnership (LLPs) companies registered with the Ministry of Corporate Affairs in August, 2022. Maharashtra has the highest number of companies registered i.e. 1111, while Gujarat stands second at 443.
Of the total number of companies registered, entrepreneurial hubs, Gujarat had 11.3% of them. We overtook States such as Delhi, Karnataka and Kerala.
This data refers to the registration of Limited Liability Companies–partnership wherein all members have limited liabilities. More than 50% of LLPs formed in Gujarat have seed capital of Rs 1,00,000 or more. In Gujarat, 69% of the companies are formed with two partners.
Some of the companies are: Aagman Buildcon, 5 Eleven Ventures, Stavik Infracon, Vika Foods, Ananta- Royal Project etc There companies are registered under Registrar of Companies (RoC), Ahmedabad.
Registration of Companies in India in August 2022:
|Sr No||State||No. of companies registered||Percentage|
District-wise division of companies in Gujarat
|Sr No||Cities||No. of companies|
Instead of manufacturing, the August 2022 data reflects that registration of trading companies overtook the manufacturing units in Gujarat. This is a stark shift in the entrepreneurial trend of Gujarat.
Reasoning the shift, Sunil Dave, chairman, Indo-American Chamber of Commerce shared earlier: “The ecosystem of manufacturing units in Gujarat is shaken ever since the Rupee took a downward shift. Plus, inflation has increased. Scared that the rupee will fall further, many business houses are pre-ordering inventories from international companies. This has resulted in a shortage of machineries to commence business. Logistics and delivery of machinery in Gujarat is taking time because the geo-politics of Russia-Ukraine has sorely impacted movement of goods.”
Trend so far
Gujarat was not always in the top ranking list when it comes to registration of companies. In the past five years, Gujarat has got more than 34,700 new companies–which was the eighth highest compared to other states. Meanwhile, 16,078 companies closed down in the same period, as per data of registrations and closures shared by the Ministry of Corporate Affairs. The trend seems to be shifting now. Gujarat has slowly but surely made its way to be in direct competition with Maharashtra.