Over 4,900 new MNCs opened in India: Government

Around 1,333 multi-national companies (MNCs) have shut down in the country but more than 4,900 new ones have come up opening new avenues and job opportunities, Parliament was informed on Friday. Responding during Question Hour in the Rajya Sabha, Minister of State for Commerce and Industry Som Parkash said it is normal to see some MNCs get closed and some new to come up.

A total of 1,333 MNCs have been closed down in the country, out of which 313 were foreign-based and 1,017 were their subsidiaries, he said. "I am happy to share that in comparison to it (the one closed down), 4,906 new MNCs have been opened. This will open new avenues and provide job opportunities," Parkash said. The minister, however, did not share the time period during which the MNCs were shut and new ones were opened.