Green hydrogen, quantum computing firms among new state-run ventures set up in July
The Union government, meanwhile, continued its drive to set up new power transmission companies in July as part of its capacity addition drive, according to the latest data available from the ministry of corporate affairs.
During the month, 17,750 companies and over 7,300 limited liability partnerships (LLPs) were set up, data showed.
Kerala HVIC Foundation, a government of Kerala enterprise incorporated in July, seeks to promote energy transition and decarbonization within the state. The project will cover the entire hydrogen value chain from production and storage to distribution and diverse end-use applications and research and development, according to information available from the Agency for New and Renewable Energy Research and Technology (ANERT), an autonomous institution attached to the state power department.
The cluster will focus on the production and use of hydrogen in water and road transport.
Amaravati Quantum Computing Centre Ltd, a state government company incorporated in July, has global tech majors as partners—IBM and Tata Consultancy Services. IBM had said in a statement on 2 May that the two companies were partnering with the state of Andhra Pradesh's Quantum Valley tech park being built in the capital city of Amaravati. Tata Consultancy Services (TCS) will support the development of algorithms and applications that will help the Indian industry and academia solve some of the nation's most challenging problems, IBM said then.
In July, the Union government set up three power companies,SR WR Power Transmission Ltd, Sakoli Power Transmission Ltd and Umred Power Transmission Ltd, data showed.
In the first half of 2025, more than 30 power sector firms—mostly transmission companies and infrastructure investment trusts—were incorporated, Mint reported on 26 July.
The ministry said in a separate monthly update that the impact of the Companies Act 2013 on the ease and scale of company incorporation in the country has been substantial over the years. In the initial phase of its implementation in FY15, over 64,000 companies were set up, but the number nearly tripled by FY24, when over 1,85,000 companies were set up.
The make-up of the economy is shifting more towards services, with 72% of all new businesses incorporated every month being in the services sector. A large number of new companies are micro, small and medium enterprises, which form the backbone of the economy.
At the end of July, India had over 1.9 million companies. By count, unincorporated enterprises, especially proprietorships which do not require registration under the Companies Act, vastly outnumber companies.
Non-farm enterprises in the country, comprising proprietorships, partnerships and self-help groups, increased 12.84% to 73.4 million, according to an annual survey of enterprises other than companies for the period October 2023 to September 2024 conducted by the statistics ministry, Mint reported on 24 December last year.
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