By: ABP Live Focus | Updated at : 08 Apr 2024 05:35 PM (IST)
Udyam registration portal
New Delhi (India), April 8: The term "Udyam registration" refers to the online registration process introduced by the Indian government for micro, small, and medium enterprises (MSMEs) in India. This registration is mandated under the Micro, Small, and Medium Enterprises Development (MSMED) Act, 2006. It aims to simplify the registration process for MSMEs and provide them with various benefits and support from the government.
Through Udyam registration online, MSMEs can obtain a unique identification number known as the Udyam Registration Number (URN). This number serves as proof of their registration as an MSME enterprise. The registration process involves providing basic details about the business, such as Aadhaar number, PAN card details, business name, type of enterprise, and other relevant information.
The Udyam registration portal is operated by the Ministry of Micro, Small, and Medium Enterprises (MSME) of the Government of India. Once registered, MSMEs can avail themselves of various benefits such as easier access to credit, subsidies, and government schemes specifically designed to support MSMEs. Additionally, it facilitates the integration of MSMEs into the formal economy and enhances their visibility for business opportunities.
MSME Registration Classification
In India, the Ministry of Micro, Small, and Medium Enterprises (MSME) has introduced the Udyam Registration process, which replaced the earlier system of MSME registration. Under this scheme, businesses are classified based on their investment in plant and machinery or equipment, as well as their annual turnover.
The classification criteria were as follows:
Eligibility for Udyam Registration
To qualify for Udyam Registration, a business must adhere to the following criteria:
Documents Required During Udyam Registration
To register under the Udyam Registration portal, which is part of the Indian government's initiative to support micro, small, and medium enterprises (MSMEs), you typically need the following documents and information:
These are the basic documents and information required for Udyam Registration. However, depending on the nature of the business and specific requirements, additional documents or details may be requested during the registration process.
Process of Udyam Registration
The process of obtaining Udyam Registration involves the following steps:
Access the Udyam registration portal at https://eudyogaadhaar.org/
Enter all the required details accurately in the registration form. This includes personal details, business details, and other relevant information.
Verify the details entered in the form and ensure accuracy. Any incorrect information may lead to delays or rejection of the registration.
After completing the form, submit the application.
Make a successful payment for udyam registration application.
Upon successful submission and verification of the application, a unique Udyam Registration Number (URN) will be generated and provided to the user.
On receiving the URN, the user can download and print the Udyam Registration Certificate from the portal.
The registration is valid for a lifetime unless the enterprise outgrows the definition of an MSME or voluntarily cancels the registration.
In conclusion, Udyam Registration offers a streamlined process for Indian micro, small, and medium enterprises (MSMEs) to obtain government recognition and access benefits. By adhering to eligibility criteria and submitting necessary documents, businesses can secure their unique identification number and unlock growth opportunities. With its simplified steps & lifetime validity, Udyam Registration stands as a pivotal tool in integrating MSMEs into the formal economy and fostering their development within the Indian business landscape.
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