**Answer:**

The correct answer is option 'D', i.e., more than 750 parties are registered with the Election Commission of India. Let's delve into the details to understand the reasoning behind this answer.

**1. Introduction to the Election Commission of India:**
The Election Commission of India (ECI) is a constitutional body responsible for administering and supervising the electoral processes in India. It was established on 25th January 1950 and operates under the authority of the Constitution of India.

**2. Political Parties in India:**
India has a vibrant political landscape with a multi-party system. Political parties play a crucial role in the democratic process by representing the diverse interests and aspirations of the people. Several parties participate in elections at various levels, including national, state, and local.

**3. Registration with the Election Commission:**
To contest elections and avail certain benefits like reserved symbols, political parties need to be registered with the Election Commission. The registration process involves fulfilling certain criteria and complying with the guidelines provided by the ECI.

**4. Number of Registered Parties:**
As of now, more than 750 parties are registered with the Election Commission of India. The exact number keeps changing as new parties register and some parties may get deregistered due to various reasons such as non-compliance with regulations or dissolution.

**5. Importance of Registered Parties:**
Registered political parties have certain privileges and responsibilities, such as the right to contest elections, access to electoral rolls, the provision of reserved symbols, and eligibility for party-specific benefits provided by the ECI. The registration process helps in maintaining transparency and accountability within the political system.

**6. Diversity and Representation:**
The large number of registered parties reflects the diverse and pluralistic nature of Indian society. It allows for a wide range of ideologies, interests, and opinions to be represented in the political arena. This diversity contributes to a vibrant and inclusive democracy.

**Conclusion:**
In conclusion, the Election Commission of India has registered more than 750 political parties to participate in the electoral process. This ensures a diverse and inclusive representation of the people's interests and aspirations in the democratic system of India.