Officials said filings for new company registrations continue to rise in August.
“This is not a declining trend. In August also, the filings are increasing, not only companies but LLPs also,” an official said.
Another senior government official said this clearly shows signs of a pick-up in business activity since the lockdown imposed to curb the spread of Covid-19.
New company registrations dropped to a low of 3,209 in April, the first full month of the lockdown, which started on March 25.
Company incorporations more than doubled to 10,954 in June from 4,835 in May. The increase was also due to initiatives such as the SPICe+ form for online name reservation and company registration introduced in February via the MCA21 platform, the official said.
“There could also have been a backlog from April and May,” the official added.
It currently takes only one day to incorporate a company, provided all the documentation is in place, which is a global benchmark, according to the official.
On average, about 120,000 companies are registered with the ministry in a year.