Uttar Pradesh, India’s largest state in terms of population, has achieved a major milestone. The agricultural state of Uttar Pradesh has now become the third largest state in the country in terms of active or operational companies, leaving behind West Bengal. This has come to light in the latest data released by the Ministry of Corporate Affairs. The state has achieved this feat due to the improving economic environment in Uttar Pradesh and the increasing trust of companies in the state government.
Maharashtra is in first place and Delhi is in second place
On 30 September, Maharashtra was first in this list with 3,38,351 active companies, and Delhi was second with 2,46,361 companies. Now, Uttar Pradesh has come to third place, leaving West Bengal behind, where the total number of active companies is 1,45,009. On the other hand, West Bengal, which has moved from third to fourth place, has a total number of active companies of 1,44,348.
Highest increase in the last one and a half years
In Uttar Pradesh, there has been a tremendous increase in the number of active companies in the last one and a half years. During this time, 28,649 active companies have been added in the state, second after Maharashtra. On the other hand, only 8,896 new active companies have been added in West Bengal in the last one and a half years. Amit Malviya, co-incharge of West Bengal BJP’s IT department, has also tweeted about this matter.
#LeadStoryOnET | #UP beats #WestBengal, emerges 3rd largest to house ‘#active‘ #companies in #India https://t.co/taCOHHeUn7 pic.twitter.com/c51zh11xx5
— Economic Times (@EconomicTimes) October 30, 2024
Long term prospects
Experts believe that better law and order, a large consumer base and the government’s efforts to make the state better for business in Uttar Pradesh are encouraging companies to invest here. According to a state official, ‘aggressive investor outreach’ and long-term development prospects have further increased the attractiveness of Uttar Pradesh for business. The Yogi Adityanath government of Uttar Pradesh is openly supporting consumer electronics, IT and defence sectors. Along with this, the state has also given priority to a strong startup ecosystem in many sectors.
More companies are closing in West Bengal
To date, 2,42,249 companies are registered in West Bengal, but a large number of companies have closed in the state. Data shows that 94,039 companies have closed in West Bengal, 1145 companies are under liquidation, 456 are dormant, and 2261 are in the process of deregistration. On the other hand, in Uttar Pradesh, 52,603 companies are closed, 295 are under liquidation, 107 are dormant, and 1245 are in the process of deregistration.