Post COVID-19 Uttar Pradesh adds most number of new companies

New Delhi, Nov 16: Since the outbreak of COVID-19 Uttar Pradesh has beaten industrial hubs such as Karnataka and Tamil Nadu to add the most number of new companies after Maharashtra, the data compiled by the Corporate Affairs Ministry (MCA) show.

UP added nearly 30,000 new companies in the past three years. This helped it emerge the third state in terms of number of active companies behind Maharashtra and Delhi, a report in the Economic Times said. UP has overtaken Karnataka, Tamil Nadu and Telangana in the post-pandemic phase, the report said.

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.

Since 2017 Delhi has only added 20,000 companies and its share in the total active companies has come down from nearly 20 per cent in FY17 to 15 per cent currently. The rise of UP is largely coinciding with this fact.

As of September 2017, UP was ranked at seventh behind Tamil Nadu, Telangana and Gujarat. UP includes the Noida-Mathura belt which falls under the National Capital Region (NCR).

Maharashtra on the other hand added 60,000 new companies in the past three years and continues to be on the lead. 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.