The Union cabinet approved the modalities and road map for the micro, small and medium enterprises on 1st June ,2020. India is aiming to take next big leap. The initiative to skill India’s efforts directed towards economic infrastructural changes, has ramped up micro entrepreneurship models and boosted start up culture. The young Indian entrepreneur will require knowledgeable workers and skilled technical staff who are flexible, analytical and who can be driving force for gaining market share. The Micro, Small and medium enterprise not only contributes significantly to the Indian Economy in terms of Gross Domestic Products (GDP) but also to exports and employment generation.

Any person who intends to establish micro, small, or medium businesses will have to file for Udyam registration in the online Udyam Registration Portals. The business will subsequently be issued an Udyam Registration Number and an e-certificate namely, ‘Udyam Registration Certificate’. As per the notification of the ministry of the msme, all the existing Indian companies and enterprises shall file and register as Udyam on or before 31st Mar 2021. The old Udyog Aadhaar Memorandum can be upgraded to Udyam registration by verifying/seeding the PAN.

WHAT IS UDYOG AADHAR?

The Udyog Aadhar Card registration process was initiated in India by the government for boosting small and medium businesses.

Udyog Aadhar (also known as Aadhar for business) is a unique 12-digit Unique Identification Number provided by the ministry of MSME for small and medium enterprises. It is a means for small business entities to register themselves as MSME, giving small business owners the official government recognition for their business.

Moreover, companies that are MSME- registered are also applicable to many different benefits and subsidies that the government is providing them to boost their business. The reason is that they help to create many jobs and are also responsible for a sizeable amount of all manufacturing activities within the country.

Additionally, as India is approaching the new decade with the Make in India campaign, MSME stands at a pivotal position to fulfil this dream.

BENEFITS OF UDYOG AADHAR

​Given below, is a list of benefits derived from the various schemes offered by the Ministry of MSME for the Protection, Growth and Development of the small enterprises. The same benefits can also be availed by the Udyog Aadhaar holders and prove to be very advantageous for them.

DOCUMENTS REQUIRED FOR UDYOG AADHAR

You need to submit a few documents for completing the registration process to obtain Udyog Aadhaar for your enterprise.

WHO SHOULD GET UDYOG AADHAR?

Every type of business entity including one-man company, proprietorship, partnership firm, manufacturer, producer, limited company, private limited company, limited liability partnership firm, co-operative societies, any association of individuals, retailors, Hindu Undivided Family or any other undertaking should get Udyog Aadhaar.

Your business needs to meet certain eligibility criteria defined in MSMED Act, 2006 to be classified as a medium, small and micro industry. Owners of enterprise and company should check if they can be classified under MSMED Act.

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