In the initial three quarters of FY24, Limited Liability Partnerships (LLPs) saw a remarkable 54% year-on-year surge, contrasting sharply with the modest 4% increase in company registrations during the same period, according to official data.
A senior government official attributed this substantial growth in LLP registrations to the resilient prospects of services exports, which have remained strong despite a slowdown in global goods shipments amid a worldwide economic deceleration. Additionally, the official noted a noteworthy resurgence in domestic services trade during the current fiscal year. Ministry of Corporate Affairs (MCA) data reveals record highs in registrations with 42,524 LLPs and 137,109 companies between April and December in this fiscal year.
