A Study on Growth of Limited Liability Partnerships (LLPs) in India - An Innovative Vehicle for Entrepreneurial Development

Abstract

This present study aims to assess the trend of registration of Limited Liability Partnerships (LLPs) in India after implementation of companies Act 2013 and Goods and Services Tax Act 2017. This study uses descriptive and inferential statistical tools for analysis and interpretation of data. This study results indicate that economic activitywise maximum numbers of registered and active LLPs were in service sectors 76 per cent, followed by industry 22 per cent and agriculture sectors 2 per cent. This study finally concluded and suggests that State, Central and Union Territories (UTs) governments, must take necessary steps for increasing new startups in LLPs in India. These include financial assistance at concessional rates, tax holidays, subsidies for existing as well as new domestic and foreign entrepreneurs. It creates better environment for investors by enhancing ease of doing business indicator in India and protecting their investments.