Parliamentary data show that only one company shifted its registered office to Jammu and Kashmir from Maharashtra between June 1, 2014 and November 1, 2025, even as thousands of firms relocated out of major States during the same period.

The figures, placed in the Lok Sabha by the Ministry of Corporate Affairs along with detailed annexures, reveal that a total of 5,137 companies moved away from Gujarat, Madhya Pradesh, Maharashtra and Uttar Pradesh to other States. Maharashtra accounted for the largest outflow, with 3,191 companies relocating, followed by Gujarat with 846, Uttar Pradesh with 711 and Madhya Pradesh with 389.
Most of these companies shifted to established commercial hubs, particularly Delhi and Karnataka. Of the firms leaving Maharashtra, 472 moved to Delhi and 460 to Karnataka, while companies exiting Gujarat and other States also dispersed largely towards similar business-friendly destinations. In contrast, the data record just a single inward relocation to Jammu and Kashmir, originating from Maharashtra.
The information also shows that 152 of the relocating firms were listed companies. Among these, the highest number belonged to manufacturing sectors such as metals and chemicals (26), followed by business services (19), finance (18), trading (13) and construction (11).
The trend indicates that corporate relocations are largely influenced by sectoral strategies favouring access to markets, infrastructure, suppliers and business ecosystems that are more readily available in established commercial States.