FOREIGN COMPANIES AT WORK IN INDIA

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A total of 1213 foreign companies as defined under Section 591 of the Companies Act, 1956, were registered in the country during 2001. Of these, 72 foreign companies established their places of business in the country.

The number of foreign companies in India has been increasing since 1993-94 following the emerging globalisation of Indian economy. As against 565 foreign companies registered during 1993-94, the number of such companies went up to 619 during 1994-95, to 679 in 1995-96, to 772 in 1996-97, to 871 in 1997-98, to 956 in 1998-99, to 1045 in 1999-2000, to 1141 in 2000-01 and to more than 1213 in 2001-2002.

Foreign companies in India are registered with the Registrar of Companies at Delhi irrespective of their areas of operation in the country.