The Union MSME Ministry's new online MSME / Udyam Registration system, which went live on July 1, 2020, has proven to be a success, with more than 11 lakh MSMEs having successfully registered.
With effect from July 1, 2020, the Ministry of MSME has updated the definition of MSMEs and the registration process. It also established https://eudyogaadhaar.org/, a new portal for MSME/Udyam registration. Since then, the site has run without a hitch. This portal is the first of its kind to be seamlessly connected with the CBDT and GST networks, as well as the GeM. It should be emphasized that, as a result of this integration, MSME registration is now completely paperless.
All of the Ministry's Field Establishments, including MSME Development Institutes, MSME Technology Centers, NSIC, KVIC, and the Coir Board, have been instructed to provide full support to businesses for Udyam Registration. Likewise, all District Magistrates and District Industries Centers have been asked to speed up MSMEs' registration. MSMEs' registration grievances are handled via CHAMPIONS' platform, which has a network of 68 State Control Rooms and a Central Control Room across the country.
The trend and overall picture, according to an examination of registrations to October 31, 2020 (more than 10 lakh), is as follows:-
3.72 lakh businesses have registered in the manufacturing category, while 6.31 lakh businesses have registered in the service sector.
Microbusinesses account for 93.17 percent of all businesses, while small and medium businesses account for 5.62 percent and 1.21 percent, respectively.
Male entrepreneurs possess 7.98 lakh businesses, whereas female entrepreneurs own 1.73 lakh businesses.
As a transitional measure, registration without a GST number is also authorized until 31.03.2021.
Enterprises that have not yet registered should do so in order to take advantage of the Ministry of MSMEs and other government agencies services. Registration is free and should only be done through the Udyam portal.
Suggested Read: Print Udyam Registration Certificate