Spike in LLP registration, record company float signal optimism about economy
- IBEF
- January 5, 2024
During the initial three quarters of FY24, the incorporation of Limited Liability Partnerships (LLPs) experienced a robust 54% year-on-year surge, significantly surpassing the modest 4% increase in company registrations over the same period, as per official data.
According to a senior government official, this substantial growth in LLP registrations is attributed to the resilient prospects of services exports, which have remained robust despite a slowdown in global goods shipments due to a worldwide economic deceleration. Additionally, the official added that there has been a noteworthy resurgence in domestic services trade during the current fiscal year. The Ministry of Corporate Affairs (MCA) data indicates the registration of 42,524 LLPs and 137,109 companies between April and December in this fiscal year, reaching new highs for both categories.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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