Udyam Udyam
Now what you know what exactly is Udyam Registration, lets understand what it is beneficial to get your Udyam Registration.
Retailers and Wholesalers have been facing the problem of not being able to register as a MSME because the MSME Act does not permit them to since the time MSME Registration was implemented.
To find the answer to this question we will have to cite a few circulars and notifications passed by the government till date.
To find the answer to this question we will have to cite a few circulars and notifications passed by the government till date.
The purpose of the Ministry of MSME to promote Udyam Registration in such a large scale all over India is to be able to help implement such and similar other schemes for the benefits of MSMEs in India. The government aims at creating a business friendly environment in India through the system of Udyog Aadhaar and Udyam Registration. Every Udyami as the government likes to call registered MSMEs is an important part of the economy and cannot be neglected at any cost.
To facilitate this cause the ministry of MSME has come up with a new initiative called CHAMPIONS
The Ministry of MSME has introduced the Credit Guarantee Scheme for Subordinate Debt for stressed MSMEs (hereafter called as 'the scheme') on 24th June 2020 with a view to support MSMEs who have been stressed with the current difficult times.
On India's 68th Independence Day, the Honorable Prime Minister Shri Narendra Modi urged the Micro, Small and Medium Enterprises of the nation to aim for Zero Defects in the products and Zero Effects on the environment while manufacturing goods. The Prime Minister's vision to make India a Global manufacturing hub has driven major policy changes in order to promote the MSMEs of the nation towards achieving this vision.
MSME's that are already registered for Udyog Aadhar, but do not have Udyam Aadhar registration can still avail of the benefits.
Udyog Aadhaar is a unique number that is provided by the government to small business owners and entrepreneurs. The main purpose of this registration is to provide benefits under various MSME schemes. Udyog Aadhaar can also be used for opening bank accounts and availing loans, among other things. However, it's important to note that Udyog Aadhaar will no longer be valid from 1st July 2022.
Street Vendors are also allowed to obtain registration under Udyam Registration. What are the benefits street vendors can avail with Udyam Registration?
The process of migrating Udyog Aadhar to Udyam Registration is simple and can be done online.
You have applied for Udyam registration and have received your Udyam registration certificate. But what if you want to check its validity? You can do this by logging into your account on the official website of the corporation, www.udyam.gov.in
CGTMSE is the Credit Guarantee Fund Scheme for Micro and Small Enterprises. It was set up by the Government of India in 2000 to provide collateral-free credit to MSMEs.
As per the latest National Industrial Classification 2008, the following business activities are not allowed to obtain registration as MSMEs in India.
